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    EUR/USD needs to regain the upper 1.0800 area to enjoy further gains – Scotiabank

    Source Fxstreet
    Feb 29, 2024 12:39

    EUR/USD remains in the mid 1.0800-1.0900 range. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes the pair’s outlook.

    Flat trading in the short run

    Intraday price moves leave the EUR/USD pair trading more or less mid-way between support at 1.0800 and resistance at 1.0890. 

    Trend momentum is weak and suggests flat trading in the short run. 

    Longer-term price action looks a little more supportive to my eye but spot needs to regain – and hold – the upper 1.0800 area if spot gains are to develop further.

     

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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