Euro Consolidates Below 1.15 Resistance Against US Dollar: Scotiabank
Scotiabank analysts note the euro is trading around 1.15 against the dollar, with a lack of Eurozone economic data keeping the pair in consolidation below resistance.
EURUSD
Scotiabank’s FX team sees the euro locked in a consolidation pattern just shy of the 1.15 level against the US dollar. With Eurozone economic releases thin on the ground, there is little to spark a directional move.
The bank highlights that the single currency remains below resistance, leaving the near-term outlook muted. Price action is range-bound until a fresh fundamental driver emerges.
Source: FXStreet Forex News