EUR/USD nudges higher. Shaun Osborne, Chief FX Strategist at Scotiabank, expects the pair to enjoy further gains.
EUR/USD will remain supported on modest dips
“EUR/USD is trading a little higher overall on the session but short-term price action suggests that gains are a bit of a grind and are attracting some selling pressure on modest gains.”
“The broader trend higher in the EUR has lost a little momentum but the bullish alignment of trend oscillators across the short, medium and long-term DMI studies suggest (to me) that the trend higher in spot still has legs and the EUR will remain supported on modest dips (to the mid/ upper 1.08s).”
“Resistance is 1.0970/75 but 1.10 remains the (minimum) objective for this move up.”
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