EUR/USD still has some work to do in order to rally – Scotiabank

EUR/USD drifts from resistance in the upper 1.05s. Economists at Scotiabank analyze the pair’s outlook.

Bargain hunters likely to remain active on dips 

EUR/USD drift from the upper 1.05s on the day suggests the pair still has some work to do in order to rally but bargain hunters are likely to remain active on dips for now. 

Trend resistance off the July high for EUR/USD sits at 1.0585 today. Rejection risks tipping spot back to the low 1.05 area in the short run.