EUR/USD dips after one other rejection of 1.09. The pair might droop to 1.0790 on a break beneath 1.0840, economists at Scotiabank report.
Broader bull pattern stays intact
“Spot has reversed fairly strongly from the day by day excessive simply above 1.09, giving the intraday chart a unfavorable look.”
“The near-term outlook turns extra EUR-negative beneath 1.0840 (minor double high set off) which might put the EUR heading in the right direction for a check of 1.0790.”
“The broader bull pattern stays intact, nonetheless, and we proceed to anticipate agency help for the EUR on comparatively minor dips.”
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