EUR/USD: Losses could mount to 1.10 on a break below 1.12 – Scotiabank
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EUR/USD remains capped above 1.13. Economists at Scotiabank expect the world’s most popular currency pair to suffer significant losses on a break under the 1.12 level.
Resistance is at 1.1300/10
“EUR/USD is now targeting yesterday’s low of 1.1263 – with some minor support holding around 1.1280. The currency now faces further losses if it breaks under the mid-figure zone that acts as the next support marker ahead of the 1.12 area.”
“Beyond the 1.12 area, losses could mount to 1.10.”
“Resistance is 1.1300/10 followed by the mid-1.13s.”
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