#EURUSD @ 100037 to retest the 09900/10 zone on a sustained push under 09985 – Scotiabank, Pivot Orderbook analysis
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EUR/USD is capped at around 1.0050. Analysts at Scotiabank expect the world’s most popular currency pair to retest the 0.9900/10 area on a drop below 0.9985.
“After another failed test of 1.0050 earlier in the session (minor double top), a sustained push under 0.9985 (neckline trigger) will tilt risks towards a retest of the 0.9900/10 area.”
“Swaps are not yet fully priced for a 75 bps hike, reflecting 67 bps of tightening at the Sep meeting, but the trend is leaning towards the risk of a more aggressive hike which may provide the EUR with some underpinning below 1.00 for now.”
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