EUR/USD is aiming for a retest of the 1.10 zone – Scotiabank

EUR/USD nears 1.08. Economists at Scotiabank believe that the world’s most popular currency pair could retest the 1.10 area.

Short-term trend oscillators augur positively for the Euro

“Gains through 1.0760 and bullish-leaning, short-term trend oscillators augur positively for the EUR and suggest firm support on dips (1.0750/60 initially and, stronger, at 1.0700/25).”

“We spot some resistance at 1.0835/40 but gains through the upper 1.07s rather suggest the EUR is aiming for a retest of the 1.10 zone.”

See – EUR/USD: Break above 1.0806 should see the rally gain more momentum – Credit Suisse