Economists at Scotiabank analyze EUR/USD outlook as the pair holds range.
Key support in the low 1.09s remains vulnerable
Trading remains range-bound in effect but the EUR lost ground late last week, after being blocked by resistance at 1.10 and retains a weak technical undertone today.
Key support in the low 1.09s (bull channel base at 1.0923 and 40-Day Mvong Average at 1.0931) remains vulnerable.
A push back to the 1.07/1.08 range remains a risk in the coming weeks.
See – EUR/USD: Trading sustainably above 1.10 is premature – ING
Source: https://www.fxstreet.com/news/eur-usd-a-push-back-to-the-107-108-range-remains-a-risk-in-the-coming-weeks-scotiabank-202401151232