The post Losses through 1.0790 may extend to a little but not that much for now – Scotiabank appeared on BitcoinEthereumNews.com.

EUR/USD drifts back after a solid run higher. Economists at Scotiabank analyze the pair’s outlook. Firmer support should emerge at 1.0760/1.0770 While there is little to remark upon in terms of underlying fundamentals supporting the EUR, there are some positive developments in the background – solid returns from European equities and a moderate pick up in (unhedged) portfolio inflows plus more supportive yield spreads – which are underpinning the EUR.  Trend momentum on the intraday and daily DMIs are leaning bullish – but the signal is marginal and perhaps not enough to suggest a reliable base in the upper 1.0700s at this point. Losses through 1.0790 may extend to a little but not that much for now. Firmer support should emerge at 1.0760/1.0770. Resistance is 1.0840/1.0850. Source: https://www.fxstreet.com/news/eur-usd-losses-through-10790-may-extend-to-a-little-but-not-that-much-for-now-scotiabank-202402211244

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Filed under: News - @ February 21, 2024 5:10 pm