EUR/USD bounce back from inferior levels yet headwinds remain. In the perspective on financial experts at Scotiabank, its precarious break under equality denoted a vital improvement in the downtrend that signs further misfortunes ahead.
Negative cost activity in the close to term
“The EUR is confronting a large number of headwinds that will undoubtedly see it close under, and broaden misfortunes past, the equality mark.”
“The EUR has helpfully held in oversold region over the vast majority of the week, which might be keeping it upheld and forestalling a supported drop under 1.00. Be that as it may, the more extensive pattern and restricted gains through the mid-1.00s (beside its fleeting push through 1.01 on Wed) are adjusted for negative cost activity in the close to term.”
“Support past 1.0000/10 is 0.9985 and the Thu low of 0.9952.”
“Opposition is ~1.0050, 1.0074, and the 1.01 enormous figure zone.”