EUR/USD: Holding parity suggests more gains towards 1.03 – Scotiabank

EUR/USD regains parity. The pair could extend its gains towards the 1.03 mark, economists at Scotiabank report.

Regaining parity is a boost for the euro

“Gains yesterday through key trend resistance off the Feb EUR high are holding and what was resistance now becomes key support (0.9935).”

“Note that parity (0.9998) is the 23.6% retracement of the 2022 EUR decline; holding parity suggests more gains towards 1.03 (38.2% retracement at 1.0284).”

See – EUR/USD: Break of 1.00 could trigger quite a sharp short squeeze to 1.02 – ING