EUR/USD: Slide below 1.13 to find support around the mid-1.12s – Scotiabank

EUR/USD slips under 1.13. Economists at Scotiabank expect the pair to find support around the 1.1250 level.

Euro remains at risk of further losses on mounting Russia/Ukraine tensions

“The EUR’s losses since mid-month have today seen it break under the bottom of the upward trending channel where it traded since late-November (at 1.1292). Losses beyond this point may find support at the mid-figure area followed by ~1.1220/35.”

“Resistance is 1.1290/300 followed by ~1.1335.”

“The EUR remains at risk of further losses on escalating risks between Russia and Ukraine (and NATO), as well as tomorrow’s Fed meeting where the bank will likely tee up a rate hike.”