EUR/USD: Downside pressure to build on a clear daily close under 1.0680 – Scotiabank

EUR/USD has slipped somewhat intraday. A daily close below the 1.0680 mark would add downside pressure, economists at Scotiabank report.

Intraday gains to remain limited 

“EUR/USD drift from resistance around the 1.0700/10 area looks poised to extend a little more.”

“Short-term trend dynamics are EUR-negative and broader price trends are tilting more negative for the EUR below key trend and retracement support at 1.0680.”

“Look for intraday gains to remain limited and for downside pressure on spot to build on a clear daily close under 1.0680.”