EUR/USD: A clear push through the 1.0765 point would be a bullish, short-term cue – Scotiabank

EUR/USD edges above 1.07 amid oversold conditions. Economists at Scotiabank analyze the pair’s technical outlook.

The very short-term trend looks constructive

The very short-term trend looks constructive and the EUR does look quite oversold (after nine consecutive weekly losses against the USD). But there is still quite a gap between current levels and points on the chart which would signal scope for more EUR strength. 

A clear push through the 1.0765 point would be a bullish, short-term cue for the EUR at least.