EUR/USD holds a very narrow range in the low 1.0800s. Economists at Scotiabank analyze the world’s most popular currency pair outlook.
Bargain hunters are still likely to look at dips to near 1.0800 as a buying opportunity for now.
Short-term trend dynamics are neutral while the daily and weekly DMIs still lean, if only moderately, EUR-bullish. That should limit downside pressure on spot in the near term at least.
Resistance is 1.0865/1.0875.
See: EUR/USD can stabilise around 1.0850 – ING