EUR/USD: Resistance likely to develop around 1.0635/1.0645 – Scotiabank

EUR/USD edges off low to regain 1.06. Economists at Scotiabank analyze the pair’s outlook.

Short-term low may be developing in EUR/USD

Intraday charts suggest a tentative, short-term low may be developing in EUR/USD. 

The 1 and 6-hour charts reflect bullish price signals developing over the past few hours. 

Whether the EUR can develop any significant upside movement in the near-term remains to be seen though.

Resistance is likely to develop around 1.0635/1.0645. Support is 1.0535.

See: EUR/USD could sink into the 1.0480/1.0510 support area – ING