EUR/USD: the bearish downturn becomes even more significant according to a technical analysis (Scotiabank)

The EUR/USD is expected to continue to decline in the very short term, according to Scotiabank.

"The bearish turnaround of the EUR/USD since the 1.09 zone is more significant from a technical analysis point of view. The fall has spread over the last 24 hours, bringing the euro below the resistance zone at 1.0820/40. The rise towards 1.09 at the beginning of the week seems like a false break and we anticipate a continuation of the decline towards a range located at 1.0750/00."