Home›Forex›Major Pairs›Euro consolidates near 1.15 against dollar, key level…

Euro consolidates near 1.15 against dollar, key level 1.1565

Scotiabank analysts say EUR/USD needs a break above 1.1565 to extend gains, with support seen around 1.1460 to 1.1480.

Reported · Written up by our desk · Major Pairs

Scotiabank analysts say the euro is consolidating around the 1.15 area versus the US dollar, citing limited Eurozone data as a reason for the lack of fresh catalysts.

They point to last week’s sharp move higher that has stalled at a broader bear trend line, with technical conditions turning EUR-bullish only if EUR/USD clears 1.1565.

In the same view, support is identified in the 1.1460 to 1.1480 region, where the currency appears to be holding during the consolidation.

Latest closeEUR/USD 1.151 ▼0.1%

More like this

Sources