EUR/USD: Risks remain geared to more strength – Scotiabank

EUR/USD trades back under 1.07. Economists at Scotiabank analyze the pair’s outlook.

Gains should pick up a bit more momentum above 1.0710/1.0720

EUR drift from Monday’s peak may be steadying. Intraday price action reflects firm support for the EUR on dips to the mid-1.06 area over the past couple of sessions. 

Trend momentum signals remain bullishly oriented on the intraday and daily studies but intraday trend strength has softened.

Risks remain geared to more EUR strength above while 1.0650/1.0660 support holds.

EUR gains should pick up a bit more momentum above 1.0710/1.0720.