Scotiabank notes that EUR/USD should hold under the 1.1675/85 to resume its fall on the Forex.
«EUR/USD fell last week, breaking under the support of the moving average 100 days (1.1687) and the channel support (1.1675), which is also the neck line of a SUMMER.
The lack of follow-up on the downside breakout leaves EUR/USD seem a little lost, especially after the yesterday’s rally.
EUR/USD may test the top of 1.16 in the short term, but the pair must break and hold above 1.1675/85 if she wants to avoid a resumption of the fall in the coming weeks. «