Inflation data from France showed unchanged prices on the February month (versus expectations of a 0.2% rise), Scotiabank's Chief FX Strategist Shaun Osborne notes. 

Trade/ tariff concerns continue to weigh on the EUR

"Trade/ tariff concerns continue to weigh on the EUR outlook, driving a deeper divergence with my estimated spot fair value of 1.0687, driven by improving real yields and significantly superior EZ equity market returns." 

"Range parameters are being defined by the 100-day MA at 1.0517 and the 40-day MA at 1.0392 currently. Trend momentum signals are not especially strong on the intraday and daily oscillators, suggesting range trading may extend." 

"But short-term price action does lean a little more bearish after repeated EUR failures in the low 1.05 zone this month and the loss of support in the low 1.04 zone, however. Risks may be tilted towards a push to 1.02 in the short run."