EUR/USD to alleviate downside pressure on a move above 1.1370/75 – Scotiabank EURUSD Banks
technical picture is looking a touch more positive with today’s recovery from the 1.13 but it is still too early to call a clear change in direction while below the 1.1370/75 zone, in the opinion of economists at Scotiabank.“The EUR will have to move above the mid-figure zone followed by 1.1370/75 to suggest a clearer rejection of downward pressure – and possibly move back above 1.14.”“EUR/USD may resettle into the 1.12-1.14 range where it traded through December and the first half of January.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD risks further downside near term – UOBFX Strategists at UOB Group noted EUR/USD faces a potential drop to the 1.1240 region in the next weeks. Key Quotes 24-hour view: “We expected EUR to
Read more »
EUR/USD Price Analysis: Stays defensive above 1.1330 support confluenceEUR/USD Price Analysis: Stays defensive above 1.1330 support confluence By anilpanchal7 EURUSD Technical Analysis ChartPatterns TrendFollowing SupportResistance
Read more »
EUR/USD hovering precariously above 1.1300 as traders monitor Russia/Ukraine/NATO tensionsEUR/USD is hovering just to the north of the 1.1300 level as ongoing concerns about the Eurozone’s economic vulnerability to a Russia/Ukraine war plus
Read more »
EUR/USD Forex Signal: Bears Eye Moves Below 1.1300The $EURUSD pair declined sharply on Friday as investors continued to worry about the ongoing tensions between Western countries and Russia.
Read more »
EUR/USD loses the grip and challenges 1.1300 ahead of ECBThe single currency sheds further ground and forces EUR/USD to put the 1.1300 support level to the test on Monday’s European morning. EUR/USD looks to
Read more »
USD/CAD set to drop towards the 1.2650 zone – ScotiabankThe USD/CAD is marginally lower on the session. According to economists at Scotiabank, a push under 1.2720 targets mid-1.26s. Short-term price action
Read more »