#EURUSD @ 1.05624 : A weekly close above 1.0580 will be technically bullish – Scotiabank
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EUR/USD retains a positive undertone. Economists at Scotiabank note that a weekly close above 1.0580 will be technically bullish.
“Minor dips are finding decent support near the mid 1.05 zone which may help revive spot gains for a retest of the upper 1.05s into the end of the week.”
“The EUR’s technical resilience looks impressive, from our point of view; it shrugged off a hefty (technically negative) loss earlier this week and remains within striking distance of 1.06.”
“A weekly close above 1.0580 will be technically bullish from a medium-term point of view.”
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