EUR/USD: A marginally firmer on the session – Scotiabank

There were no major data reports today and, with central bankers on the beach, there have been no comments from policy makers, Scotiabank chief FX strategist Shaun Osborne notes.

Gains above 1.0940/50 to see spot progress towards 1.10+.

“The Euro (EUR) is marginally firmer on the session but holding well within recent ranges. Flows, technicals and external factors are the key drivers for the EUR as well in the short run.”

“Despite trading well off from last week’s high, broader spot trends still look relatively bullish for the EUR. Near-term trends are flat, however, and the EUR needs to pick up a bit more ground again—soon—to reinvigorate bullish underlying trends.”

“Gains through 1.0940/50 minor resistance should see spot progress towards 1.10+. Support is 1.0875/85.”