EUR/USD: A high close on the week would be a technical positive – Scotiabank

EUR/USD remains well within this week’s range, with early gains capped again in the upper 1.0700s. Economists at Scotiabank analyze the pair’s outlook.

EUR is trying to base in a more sustainable way

Price signals look mixed across the intraday, daily and weekly charts. 

The short-term pattern of trade suggests the EUR’s rebound from the early week low has stalled but there are some more positive signals on the daily and weekly charts that might indicate the EUR is trying to base in a more sustainable way – a high close on the week for the EUR would be a technical positive.

Intraday support is 1.0740. Resistance is 1.0790/1.0800.