EUR/USD: At risk of losses continuing to a retest of 1.09 – Scotiabank

EUR/USD is capped near 1.10. While below this level, the pair is set to suffer further losses to 1.09 once support at 1.0950 gives way, economists at Scotiabank report.

Resistance past the 1.10 area and 1.1025 is the mid-figure zone

“A failure to regain the 1.10 handle leaves the EUR at risk of losses continuing to a re-test of 1.09 once support at ~1.0950 gives way.”

“Resistance past the 1.10 area and 1.1025 is the mid-figure zone where trendline resistance from its mid-Feb high stands.”