EUR/USD: Gains look corrective ahead of another push lower – Scotiabank

EUR/USD edges off earlier highs above the 1.0650 area. Economists at Scotiabank expect the world's most popular currency pair to tick down.

Risks tilted towards a push to the mid/upper 1.04s

“At this point, gains look corrective ahead of another push lower (weaker EUR intraday below 1.06).”

“Trend momentum signals are leaning bearish on the short-term (intraday and daily) studies, which should limit the EUR’s ability to rally for now.”

“We spot support at 1.0510/15.” 

“Risks are tilted towards a push to the mid/upper 1.04s.”