Scotiabank strategists Shaun Osborne and Eric Theoret report EUR/USD trading in the mid-1.15s with modest gains versus the US Dollar (USD), supported by euro area Gross Domestic Product (GDP) and a return to trade surplus. Recovering yield spreads underpin the Euro (EUR), with their narrow fair value estimate at 1.1641, above spot. Short-term technicals are described as bullish, with support near 1.1500 and resistance around 1.1580 and the 200-day moving average.
Fundamentals and technicals align higher
“The EUR is entering Friday’s NA session with a 0.2% gain vs. the USD, pushing into the mid-1.15s while also underperforming most of the G10…
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