Losses have not extended far enough to put the short-term uptrend at risk – Scotiabank

EUR/USD losses have picked up through the European session. Economists at Scotiabank analyze the pair’s outlook.

Additional losses through 1.09 would imply a little more downside risk

The EUR/USD pair is trading nearly a cent off of Wednesday’s high but losses have not extended far enough at this point to put the short-term uptrend at risk. 

Additional losses through the 1.09 level would imply a little more downside risk for the EUR in the short run, however, towards stronger support in the 1.0825/1.0850 range.