EUR/USD regains 1.05. Economists at Scotiabank analyze the pair’s outlook.
Intraday price signals are leaning bullish for the EUR.
Spot looks heavily oversold on the longer run chart and short-term patterns do suggest the potential for gains to pick up form support at 1.0450 where the market has based this week.
EUR gains through 1.0540/1.0550 in the next day or so would be supportive and target additional gains to the low 1.06s.
See – EUR/USD: Any gains above 1.05 look hard to sustain – ING