EUR/USD tests technical resistance at 1.0810. Economists at Scotiabank analyze the pair’s technical outlook.
The EUR grind higher from the late May low looks technically strong and well-developed, suggesting risks are tilted towards additional EUR gains (and firm support on modest dips in the short run).
A push above 1.0810 targets an extension in the EUR rebound to the 1.09 area.
Support is 1.0750/60.
See: EUR/USD can consolidate above 1.08 and start rising towards 1.10 on doubts that Fed will hike in July – SocGen