EUR/USD has the 1.14 level in its crosshairs – Scotiabank

EUR/USD has broken through 1.13 trading on a strong four-day streak from the low 1.11s last Friday. Economists at Scotiabank expect the world’s most popular currency pair to challenge the 1.14 level.

Below 1.13 support is seen around the 1.1280 mark

“The EUR is testing its 50-day MA of 1.1310, which alongside the figure stand as key levels to watch on a closing basis. Resistance ahead stands at 1.1335 and the mid-figure zone – with the 1.14 area roughly marking trendline resistance from the losses since June.”

“Support is ~1.1280 if the EUR fails to hold around the figure, followed by 1.1250 and 1.1235.”