VOT Research Desk
At 1.0380, the EUR/USD is consolidating above the 200-Day Moving Average (DMA). According to Scotiabank experts, a weekly closure above this level would increase the possibility for bulls.
The EUR is edging towards a test of the November uptrend at 1.0380, according to intraday trading patterns.
A break below this level could undermine some of the positive sentiment that has grown around the EUR over the past few weeks. On slight declines, we anticipate continued strong support for the EUR.
The 200DMA (1.0380) close above the weekly close will strengthen the EUR’s bullish trend.
