EURUSD points to renewed gains on moves through 1.0080/90 – Scotiabank

EURUSD is going into a consolidation phase below 1.0100. Economists at Scotiabank expect the pair to enjoy mild gains on moves through 1.0080/90.

Intraday pattern implies a bull flag in development

“EURUSD gains holding above par keep the short-term trend here supportive for the EUR.”

“For EURUSD, the intraday pattern implies a bull flag in development, which points to renewed EUR gains on spot moves through 1.0080/90.” 

“Support is 1.0020/30 intraday.”

See – EURUSD: September peak of 1.0190 likely to cap short-term upside – SocGen