EUR/USD remains capped above 1.13. Economists at Scotiabank expect the world’s most popular currency pair to suffer significant losses on a break under the 1.12 level.

Resistance is at 1.1300/10

“EUR/USD is now targeting yesterday’s low of 1.1263 – with some minor support holding around 1.1280. The currency now faces further losses if it breaks under the mid-figure zone that acts as the next support marker ahead of the 1.12 area.” 

“Beyond the 1.12 area, losses could mount to 1.10.” 

“Resistance is 1.1300/10 followed by the mid-1.13s.”