EUR/USD (Scotiabank) : The pair is showing signs of weakening but a fence in 1.09 is still necessary

Scotiabank notes that EUR/USD is showing signs of a top around 1.0950.

«EUR/USD is changing between the recent peak and trough of the beginning of the week, reflecting caution in the market on the overall direction of the Euro.

A weekly close above 1.09 will give a lot more technical strength in EUR/USD, but there are signs of weakening on the daily charts which suggest the construction of a top around 1.0950. «

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