EUR/USD: 1.1150/1.1250 the range, buy dips – Scotiabank

For EUR/USD, analysts at Scotiabank explained that EUR resilience in the face of wide spreads suggests a significant deterioration in the market’s broader perception of USD risks in recent weeks, likely reflecting US political developments.

Key Quotes:

“Friday’s rebound from the upper 1.11 area has been steady but gains have started to struggle in the low 1.12 area in London trade. 

Broader trend signals are mixed at the moment, favouring a range trade environment.”

“We look for 1.1150/1.1250 to capture the bulk of the range for the EUR into the Fed and prefer to look for opportunities to buy EUR dips.”

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