EUR/USD recovers from upper 1.06s. Economists at Scotiabank analyze the world's most popular currency pair technical outlook.

Broader signals are mixed

Modest gains back through the 1.07 area suggest a slightly firmer underlying tone for the EUR on the session, with the chance of gains extending towards the 1.0730/40 resistance zone again.

Broader signals are mixed; the EUR looks soft but has edged decisively off yesterday’s lows while bearish pressure on spot after losing support in the low 1.07s has not been consistent.