EUR/USD slide edges below 1.03 assist zone. Economists at Scotiabank imagine that the pair may prolong its hunch to 1.0100/05.
Danger of EUR/USD rally extending in direction of the low 1.05 eliminated for now
“Lack of assist round 1.0310 has condemned the EUR to some short-term (not less than) weak spot and eliminated the danger of its rally extending in direction of the low 1.05 for now.”
“We nonetheless suppose higher EUR assist will emerge on dips however that would imply close to 1.02 or – at worst – nearer extra strong, short-term assist at 1.0100/05.”
“Resistance is 1.0300/05.”