EUR/USD to target additional gains to the low 1.06s on a move through 1.0540/1.0550 – Scotiabank

EUR/USD regains 1.05. Economists at Scotiabank analyze the pair’s outlook.

Intraday price signals are leaning bullish

Intraday price signals are leaning bullish for the EUR.

Spot looks heavily oversold on the longer run chart and short-term patterns do suggest the potential for gains to pick up form support at 1.0450 where the market has based this week.

EUR gains through 1.0540/1.0550 in the next day or so would be supportive and target additional gains to the low 1.06s.

See – EUR/USD: Any gains above 1.05 look hard to sustain – ING