EUR/USD: Regaining 1.01 should allow gains to develop for a push on to 1.03 – Scotiabank

EUR/USD has bounced from the low-0.99s. The surpass of the 1.0100 zone could open up further gains, economists at Scotiabank report.

The undertone remains positive

“Despite the EUR’s late week drift from the 1.01 area, the undertone here remains positive.”

“Intraday losses have retested key support in the low 0.99s – former trend resistance, now support at – and held above it.” 

“The EUR still has its work cut out to rally but regaining 1.01+ in the next few days should allow gains to develop for a push on to 1.03.”