EUR/USD to target 1.1000/50 on a consistent break above 1.0750 – Scotiabank

EUR/USD holds near mid-1.07s. A break above here would clear the way towards the 1.10 area, economists at Scotiabank report.

Intraday support aligns 1.0690/00

“The mild winter and China’s re-opening efforts are trimming economic pessimism and prompting an improvement in expectations for the economic outlook for the Eurozone this year which will encourage the hawks and provide some solid background support for the EUR.”

“Short-term trend oscillators are leaning bullish, suggesting ongoing upside pressure on spot.” 

“A clear and consistent break above 1.0750 targets additional EUR gains to 1.1000/50.”

“Intraday support is 1.0690/00.”