EUR/USD to push on to the low 1.09 area on gains through the 40-DMA at 1.0857 – Scotiabank

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EUR/USD retains a firm undertone ahead of the ECB policy decision. Economists at Scotiabank analyze the pair’s outlook.

40-DMA emains an important bellwether for the EUR/USD rebound

The EUR/USD  pair might be overshooting spreads to some extent in the short run but the trend higher in spot looks well-established and the EUR is likely to remain supported on dips. 

Gains through the 40-DMA (1.0857 today) should see spot push on to the low 1.09 area and put a return to 1.10+ on the radar.

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• Source: https://www.fxstreet.com/news/eur-usd-to-push-on-to-the-low-109-area-on-gains-through-the-40-dma-at-10857-scotiabank-202306151145