EUR/USD: Break under 1.14 to trigger a quick drop towards the 1.1350 zone – Scotiabank

EUR’s bullish streak appears to have stalled after six consecutive days of gains. Economists at Scotiabank note that a break below 1.14 would clear the path for a quick dip towards the 1.1350 region.

Initial resistance located at the 1.1450 area

“The 1.1410/15 zone will act as a minor floor ahead of firmer support at the figure area. A break under 1.14 leaves the EUR/USD liable to a quick drop to the mid-1.13s and a test of its 50- day MA of 1.1320.” 

“Resistance after ~1.1450 is 1.1470 and 1.1485 followed by the figure.”