EUR/USD: Intraday gains back above 1.0875 would give the Euro a little more technical strength – Scotiabank

EUR/USD finds support in the low 1.0800s. Economists at Scotiabank analyze the pair’s outlook.

EUR may be trying to rebound from the low 1.0800s

Soft price action on Monday and a pickup in intraday bear momentum suggest downside risks remain for the EUR but early Tuesday price signals suggest the EUR may be trying to base/rebound from the low 1.0800s via an intraday bullish ‘hammer’ signal.

Intraday gains back above 1.0875 would give the EUR a little more technical strength intraday. 

Support is 1.0835/1.0840 and 1.0800.