EUR/USD remains liable to a break under 1.10 as Russia’s invasion continues – Scotiabank

EUR/USD has failed to hold the 1.11 handle. As economists at Scotiabank note, risks remain tilted to the downside.

EUR/USD upside remains restricted to the 1.1135 area

“The shared currency is trending toward a test of support at 1.1058 (yesterday’s low) with the daily low of ~1.1070 providing intermediate support.”

“EUR upside remains restricted to the ~1.1135 area and the mid-figure zone while upward momentum is clearly limited.”

“The EUR remains liable to a break under 1.10 in the coming days as Russia’s invasion continues.”