#EURUSD @ 1.03234 could dive as low as 1.0100/05 – Scotiabank
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EUR/USD slide edges under 1.03 support zone. Economists at Scotiabank believe that the pair could extend its slump to 1.0100/05.
“Loss of support around 1.0310 has condemned the EUR to some short-term (at least) weakness and removed the risk of its rally extending towards the low 1.05 for now.”
“We still think better EUR support will emerge on dips but that could mean near 1.02 or – at worst – nearer more solid, short-term support at 1.0100/05.”
“Resistance is 1.0300/05.”
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