EUR/USD support and resistance levels (on the way to 1.10)

A snippet from a notice by way of Scotia on the euro.

Analysts on the financial institution expects its extra doubtless for the Federal Reserve to hike by 100bps this yr than it’s for the European Central Financial institution to hike by even 10bps (and order of magnitude distinction). It is a driver of Scotia’s view of EUR/USD to 1.10.

Additional on the speed path forward, they add:

  • OIS markets penciling a primary ECB enhance in October
  • The 50bps in price will increase that markets are seeing by end-2023 can be a pointy turnaround from the ultra-dovish ECB.

On help and resistance ranges forward:

  • Assist ~1.1270/85 adopted by 1.1260 and 1/1235/40.
  • Key resistance the 50-day MA at 1.1351 and the current excessive of 1.1386

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