EUR/USD: Moves below 1.0900 intraday – Scotiabank

EUR/USD has edged back from its earlier high but trades all but unchanged on the day, FX chief FX strategist Shaun Osborne notes.

Bears break below 1.0900 intraday

“Cross flows may be undercutting the EUR to some extent on the day, with the CHF and JPY in demand. There were no major data reports from the Eurozone this morning.”

“Spot has drifted a bit on the session so far but movement is limited and confined within recent ranges. The EUR chart suggests spot remains well-supported on minor dips at the moment but the market is essentially consolidating after the sharp advance seen Friday and Monday.

Resistance is 1.0895/00, 1.0965/75.