EUR/USD: Gains through 1.0765 resistance needed to lift technical prospects further – Scotiabank

EUR/USD consolidates below 1.07. Economists at Scotiabank analyze the pair’s outlook.

A clear push under 1.06 would pave the way for losses towards 1.04

EUR gains are struggling to extend above 1.07. Broader price trends remain negative but the EUR’s heavy sell-off over the past two months leaves it looking oversold. 

EUR gains through 1.0765 resistance are needed to lift near-term technical prospects further. 

Support is 1.0670/1.0675 and 1.0635. 

A clear push under 1.06 would pave the way for EUR losses towards 1.04.