EUR/USD stabilizes after pullback from December highs – Scotiabank
The Euro (EUR) is trading marginally higher against the US Dollar (USD), consolidating after its retreat from late-December highs as European Central Bank (ECB) commentary strikes a more balanced tone, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
ECB rhetoric turns more neutral as EUR consolidates
"The EUR is steady, up fractionally vs. the USD as it consolidates its recent pullback from its late December highs around 1.18. Fundamental releases have been limited and comments from the ECB have reintroduced a slightly more neutral bias with comments from GC Villeroy highlighting both upside and downside risks."
"The EUR’s latest pullback looks to have found support around the 50 day MA at 1.1660 and momentum remains close to neutral with an RSI hovering just below the diving threshold at 50. We look to a nearterm range bound between 1.16 and 1.17."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto prices today (Feb. 2): BTC dips below $77K, XRP, LINK, XMR slide amid market crash
THIS is the stablecoin power angle that nobody is talking about

China Aims to Make Renminbi a Global Reserve
Sonos (SONO) Q4 Results Preview: Key Points To Watch
