EUR/USD: Bargain hunters to look at dips to near 1.0800 as a buying opportunity – Scotiabank

EUR/USD holds a very narrow range in the low 1.0800s. Economists at Scotiabank analyze the world’s most popular currency pair outlook.

Resistance is seen at 1.0865/1.0875

Bargain hunters are still likely to look at dips to near 1.0800 as a buying opportunity for now.

Short-term trend dynamics are neutral while the daily and weekly DMIs still lean, if only moderately, EUR-bullish. That should limit downside pressure on spot in the near term at least. 

Resistance is 1.0865/1.0875.

See: EUR/USD can stabilise around 1.0850 – ING