“As EUR approaches 1.35 we would expect resistance to intensify and continue to hold a year-end target of 1.27, expecting uncertainty and significant hurdles to weigh on EUR trading later in the year”, affirmed Chief Currency Strategist Camilla Sutton at Scotiabank.
On a technical perspective, the expert added “… mixed signals, but bulls are regaining control, pushing EUR up towards its recent high of 1.3404, with resistance intensifying at 50% Fibo (May 2011 to July 2012 fall) at 1.3492”.
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