EUR/USD: Vulnerable to a test of 1.08 – Scotiabank
|EUR/USD remains under pressure as spot struggles to hold on to the upper 1.09s. Economists at Scotiabank expect the world's most popular currency pair to suffer further losses toward the 1.08 area.
Resistance seen at 1.0990/00 followed by the mid-1.10s
“The currency found a bottom around 1.0960 ahead of firmer support at 1.0950 – that is followed by ~1.1925 and the figure zone.”
“The EUR’s push under 1.10 leaves it at risk of losses extending to a test of the 1.08 figure zone.”
“Resistance is 1.0990/00 followed by the mid-1.10s.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.