EUR/USD: Regaining 1.0800+ would give the Euro a little more momentum – Scotiabank

Market news

16 February 2024

EUR/USD: Regaining 1.0800+ would give the Euro a little more momentum – Scotiabank

EUR/USD remains well-supported in the upper 1.0700s. Economists at Scotiabank analyze the pair’s outlook.

Short-term trend momentum favours a little more strength in the short run

EUR gains from the mid-week low are holding up and leave spot trading close to levels which could point to more sustained gains in the short run.

A move above 1.0805/1.0810, to better Monday’s high would give the EUR a bit more lift. Also, a close above 1.0786 (Monday’s opening level) on the week would be a bullish cue as well.

Short-term trend momentum favours a little more EUR strength in the short run.

Support is 1.0755 and 1.0690/1.0700.

US Dollar gears up for make or break moment with PPI ahead

AUD/JPY moves in an upward direction to near 98.00 after dovish remarks from BoJ Ueda

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