EUR/USD nudges higher. Economists at Scotiabank analyze the pair’s outlook.
Momentum remains EUR-bearish
The EUR’s track higher from Tuesday’s low looks corrective at this point – although the rebound from 1.0720 matches the November low and therefore warrants attention as a potentially more durable base.
EUR/USD has made minor progress on the intraday chart which may allow for EUR gains to extend to 1.0800/1.0810 in the short run but momentum remains EUR-bearish and spot remains some way off more stable (bullish) technical ground (above 1.0875).
Source: https://www.fxstreet.com/news/eur-usd-may-extend-gains-to-10800-10810-in-the-short-run-scotiabank-202402071230