EUR/USD: Near-term gains should be able to extend to 1.0700/1.0750 – Scotiabank

EUR/USD has not been able to sustain gains through the upper 1.06s. Economists at Scotiabank analyze the pair’s outlook.

EUR retains a firm technical profile

The EUR retains a firm technical profile on the short-term charts. 

Trend strength signals are developing bullishly for the EUR on the intraday and daily oscillators which should bolster support for the EUR on minor dips. 

Near-term gains should be able to extend to 1.0700/1.0750. 

Support is 1.0595/1.0600.

See: EUR/USD to move towards the 1.0675/1.0700 area unless US jobs surprise on the upside – ING