EUR/USD needs to overcome the mid-1.13s to surge above the 1.14 level – Scotiabank

EUR/USD trades flat. Economists at Scotiabank expect the world’s most popular currency pair to settle within a 1.1250-1.1350 range if it fails to surpass the mid-1.13s in the coming days.

Break of 1.14 faces resistance at 1.1420/35

“EUR/USD may struggle in the near-term to push past the mid-1.13s and a failure to do so in the coming days would likely see the EUR re-settle in the ~1.1250-1.1350 range where it sat through December and part of January.” 

“Support is 1.1315 followed by the 1.13 zone.” 

“A break of 1.14 faces resistance at 1.1420/35 and then the mid-figure area.”