EUR/USD: Poised to take another run at major resistance in the 1.1015 area – Scotiabank

EUR/USD pushes higher. Economists at Scotiabank analyze the pair’s outlook.

Focus on low 1.10s

A solid bid for the EUR in late morning European trade puts a positive spin on the intraday chart and suggests spot may be poised to take another run at major resistance in the 1.1015 area shortly.

Trend oscillators are aligned bullishly for the EUR on short, medium and long-term studies, suggesting that a break above the recent spot peaks should have some legs (for 1.11/1.12).

Intraday support is 1.0935/1.0940.