EURUSD: Gains may extend above the mid-0.99 zone – Scotiabank
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EURUSD nears parity. Economists at Scotiabank believe that the pair could extend its race higher in the next few days.
“ECB Governor Villeroy told the Irish Times that the ECB needed to keep raising rates until underlying inflation has ‘clearly peaked’. When even the more moderate voices among policymakers still rather see more upside risk for rates in the months ahead, the ECB clearly has more tightening to do, suggesting EUR gains may extend in the coming weeks.”
“Gains may extend a little more still if spot can hold gains above the mid-0.99 zone in the next day or so.”
“Intraday resistance is 1.0010/20 and 1.0100.”
“Support is 0.09925/50.”
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