EUR/USD: Gains should resume on a break above 1.0965/70 intraday – Scotiabank

EUR/USD holds in narrow range above low 1.09 zone. Economists at Scotiabank expect the pair to resume its race higher on a break above 1.0965/70.

Bull trend remains intact

“The EUR is little changed but the fact that spot is consolidating above the late Feb/early Mar high suggests firm underlying support for the currency.”

“The bull trend remains intact and will need little encouragement to reassert itself.”

“Support is 1.0920/25 and  – stronger  – at 1.0850/75.”

“EUR gains should resume on a break above 1.0965/70 intraday.”