EUR/USD: The 1.05 and 1.06 figure areas remain solid support and resistance zones – Scotiabank
|Another session of range-trading for the EUR/USD leaves the pair’s technical picture looking broadly intact. Economists at Scotiabank note that the 1.05 and 1.06 levels remain solid support and resistance, respectively.
Losses below 1.05 find support at the late April low of 1.0472
“The 1.05 and 1.06 figure areas remain solid support and resistance zones, respectively, while the broad trend in the EUR points to this consolidation period eventually giving way to further losses to a five-year-low.”
“Intraday support ahead of the figure is ~1.0525 while the daily high of ~1.0575 stands as intermediate resistance followed by ~1.0585 ahead of the figure zone.”
“Losses below 1.05 find support at the late Apr low of 1.0472.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.