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EUR/USD is holding a tight range around the 1.0900 figure. Economists at Scotiabank analyze the pair’s outlook.
Trend signals are neutral
ECB Governor de Cos has indicated that the prospect of the first interest rate cut in June is gaining traction, echoing a growing consensus among key policymakers favoring a mid-year easing.
EUR/USD is currently in a consolidation phase. Despite attempts, EUR gains are limited around 1.0900, and a breakthrough above this level is necessary to push towards 1.0950.
Nearby support is observed around 1.0875, followed by 1.0840/1.0850.
Trend indicators are currently displaying a neutral stance.
