EUR/USD: Gains through 1.1040 to open up 1.1140/1.1150 in the coming days – Scotiabank

EUR/USD regains 1.10. Economists at Scotiabank analyze the pair’s outlook.

Intraday trend momentum is bullish

Solid gains have established a foothold for spot above the 1.10 area. 

Intraday trend momentum is bullish and sets the market up for a test of key resistance – and potential bull trigger – at 1.1040. Gains through here target a rise to 1.1140/1.1150 in the coming days. 

Support is 1.0990/1.1000.

See – EUR/USD: US CPI may not be enough to trigger a sustained break of the 1.1040 area – ING