EUR/USD set to dive below the 1.1270 support – Scotiabank

The EUR/USD’s break of 1.1310 saw sharp selling past the figure before a reversal from the 1.1270. This level currently stands as a support, but economists at Scotiabank think the pair is set to slide below it.

Resistance is seen around 1.1325

“The 1.1270 level will stand as support through the session – while oversold conditions possibly limit downside. EUR/USD may see some buying interest on dips below the figure, but strong downward momentum should see the pair close under the level soon and there are no notable support markers except for the big figure areas.”

“Resistance is ~1.1325 followed by 1.1350/60.”

Nov 17, 2021

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