EUR/USD rebounds to the upper 1.13s but upside potential remains limited, according to economists at Scotiabank. 

Break above 1.14 would mark a key bullish signal for the euro

“A break above 1.14 (where its 100-day MA of 1.1404 stands) would mark a key bullish signal for the EUR with resistance following at ~1.1450 and the figure area.”

“Support after the 1.1350 zone is ~1.1320 and 1.1300/80.”

 “EUR/USD may rebound marginally on an easing of military tensions, but we think it remains challenged over the next few quarters by ultra-dovish monetary policy settings, which should weigh on it toward 1.10.”