EUR/USD looks soft again in the low 1.0800s. Economists at Scotiabank analyze the pair’s outlook.
EURUSD’s loss of minor support around 1.0850 added to the negative undertone for price action on the short-term chart.
EUR losses have steadied around the 1.0800 level but the rebound in price, so far, has been limited.
A rebound back through 1.0835 resistance intraday will ease bearish pressure on the EUR and put a move back up to the mid/upper 1.0800s on the cards.
EUR support below the figure should firm up in the 1.0770/1.0790 zone.