EUR/USD needs to surpass the mid-1.10s to suggest a firmer reversal – Scotiabank

EUR/USD is struggling to make much room through 1.10, stopping at 1.1020 to move back under the figure. Economists at Scotiabank note that the pair remains under pressure while below the 1.1050 area.

Support is seen at the 1.0930 daily low

“Since its test of 1.08, the EUR has been on an ascending trajectory, but the broader trend in the EUR remains negative and it may take a move past the mid-1.10s and more firmly a test of 1.11 to suggest a firmer reversal is in the cards.”

“The daily low of 1.0930 is support followed by a firmer floor at the figure.”

Mar 15, 2022

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