EUR/USD slides again to the mid 1.10s. Though the pair appears removed from the take a look at of 1.12, economists at Scotiabank nonetheless anticipate EUR/USD to interrupt above this stage.
A break of 1.10 on the day would threaten the underside of the channel round 1.0990
“Steep losses yesterday from an intraday excessive of 1.1185 to an in depth about 120pips decrease go away the EUR removed from the take a look at of 1.12 that may have strengthened the technical image. The EUR is however buying and selling in a bullish channel because the early March lows that’s focusing on an eventual break of the 1.12 mark.”
“A break of 1.10 on the day, which stands as the following help marker after 1.1035/40 would threaten the underside of the channel at ~1.0990.”
“Resistance is ~1.1075 and the determine space.”
