EUR/USD: Loss of support at 0.9950/60 targets a drop to 0.9885/95 – Scotiabank

EUR/USD slid back to the mid-0.99s area. A break below here would clear the way for a fall towards 0.9885/95, economists at Scotiabank report.

Broader outlook remains tilted to the downside

“The EUR is still struggling to advance and, after the early week failure/rejection at key trend resistance around the 1.02 mark, the broader outlook remains tilted to the downside.”

“Intraday gains will remain capped around the 1.0010/15 point.”

“Loss of support at 0.9950/60 targets a drop to 0.9885/95.”