EUR/USD: On track for a move to 1.0950/1.0960 on a break above Thursday’s high around 1.0895 – Scotiabank

It has been a relatively busy day for the EUR already. Economists at Scotiabank analyze EUR/USD outlook.

Consolidation still looks like a pause in the EUR rally ahead of another push higher

The EUR is still effectively consolidating early week gains but firm support for the EUR on dips today solidifies the short-term range base at 1.0830. 

Spot’s consolidation still looks like a pause in the EUR rally ahead of another push higher; in the short run, a move above Thursday’s high around 1.0895 should put the EUR on track for a move to 1.0950/1.0960.