EUR/USD to reverse some of its recent gains on a break under 1.07 – Scotiabank

EUR/USD holds 1.07. A break below here would point to a possible reversal of some of the recent gains, according to economists at Scotiabank. 

Resistance stands at 1.0740/50

“The low 1.07s and the figure area remain key support for the currency followed by yesterday’s intraday low of 1.0680 and the mid-1.06s.”

“A daily close under 1.07 would point to a possible reversal of some of the EUR’s recent gains.”

“Resistance stands at 1.0740/50 ahead of the Monday high of 1.0787.”