Regaining 1.0800+ would give the Euro a little more momentum – Scotiabank

EUR/USD remains well-supported in the upper 1.0700s. Economists at Scotiabank analyze the pair’s outlook.

Short-term trend momentum favours a little more strength in the short run

EUR gains from the mid-week low are holding up and leave spot trading close to levels which could point to more sustained gains in the short run. 

A move above 1.0805/1.0810, to better Monday’s high would give the EUR a bit more lift. Also, a close above 1.0786 (Monday’s opening level) on the week would be a bullish cue as well.

Short-term trend momentum favours a little more EUR strength in the short run. 

Support is 1.0755 and 1.0690/1.0700.