A rebound back through 1.0835 resistance intraday will ease bearish pressure – Scotiabank

EUR/USD looks soft again in the low 1.0800s. Economists at Scotiabank analyze the pair’s outlook.

Support below the 1.0800 figure should firm up in the 1.0770/1.0790 zone

EURUSD’s loss of minor support around 1.0850 added to the negative undertone for price action on the short-term chart. 

EUR losses have steadied around the 1.0800 level but the rebound in price, so far, has been limited. 

A rebound back through 1.0835 resistance intraday will ease bearish pressure on the EUR and put a move back up to the mid/upper 1.0800s on the cards. 

EUR support below the figure should firm up in the 1.0770/1.0790 zone.