EUR/USD starts Q4 on the defensive. Economists at Scotiabank analyze the pair's outlook.
Developing EUR gains through the latter part of last week stalled Friday and the soft close on the week effectively drew a line under the minor EUR recovery.
The trend remains the market’s friend for now and weak trend momentum – while signaling the EUR is potentially oversold here – remains a dead weight on the EUR’s attempts to recover.
Support is 1.0490/1.0500.
Resistance is 1.0600/1.0610.