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8 December 2022 | Other

EURUSD will rise above 1.0525, according to analysts of Scotiabank

EURUSD

Economists from Scotiabank say that eventually EURUSD will break the area of 1.0525. Thus, a return to the area of 1.05 is clear.

With solid growth continuing and inflation expectations rising (from 5.1% to 5.4% during the year, according to the ECB survey), monetary policy will probably remain tight. Officials are likely to raise the interest rate by 50 basis points.

The fact that the main signals have a bullish tilt significantly helps to limit the drawdown of the euro and support it in case of weakness.  

Support level is 1.0430/35, resistance level is 1.0595/00, which is higher than 1.0525.

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