EUR/USD supported on dips to the 1.0800 area again – Scotiabank

EUR/USD is finding a little bargain-hunting support in the low 1.0800s, economists at Scotiabank say.

Potential for additional EUR gains is not obvious

Price action has steadied and the EUR has found a minor bid against support in the 1.0800 area, where spot based at the end of February. But the lift seen in the EUR so far is limited and the potential for additional EUR gains is not obvious at this point. 

EUR/USD gains through 1.0835/1.0840 should add to positive momentum in the near term and help lift spot to the mid/upper 1.0800s. 

Support is 1.0800 and – firmer – 1.0775.