EUR/USD: Continued losses to find an intermediate floor at 1.0850 – Scotiabank

The EUR’s gap to a test of the mid-1.09s was followed by steady selling back to below the 1.09 mark. Economists at Scotiabank highlight the key EUR/USD technical levels to watch out.

Resistance is located at the mid-1.09s

“Daily low of ~1.0875 now stands as support. Continued losses in the EUR should find an intermediate floor at ~1.0850 followed by Friday’s low of 1.0837 before firmer support comes in at the figure area.”

“Resistance is the mid-1.09s with a congestion area following until the next big figure.”