EUR/USD to target 0.96 on a sustained drop under parity – Scotiabank

The EUR is tracking losses against the strong USD. Economists at Scotiabank expect the world’s most popular currency pair to suffer a sustained move below 1.00, targeting 0.96.

Resistance aligns at 1.0050/60

“Price action suggests it’s only a matter of time for a sustained move below 1.00, targeting the 0.96 figure zone as key support – with intermediate at mid/big-figure areas.”

“Resistance is 1.0050/60 followed by the 1.01 big figure and yesterday’s peak of 1.0122.”