36
The EUR/USD experiences a slight descent. Analysts at Scotiabank examine the outlook for the pair.
A definitive breakthrough and penetration of resistance in the upper 1.0800s continue to be elusive.
The intraday and daily DMI readings indicate that the mild uptrend, established since the middle of the previous month, is still intact. It is anticipated that the currency pair will encounter strong support with slight declines.
Despite ongoing efforts, a decisive breakthrough and surpassing of resistance in the upper 1.0800s (1.0880/1.0890) remain elusive. Progress must be achieved sooner or later to maintain the current upward momentum.
Support is 1.0795/1.0800.
