The Euro (EUR) is trading quietly in the mid-to-upper 1.15s, tentatively extending last week’s bullish reversal. Recent comments from the European Central Bank (ECB) have nudged rate expectations higher, providing the EUR with some fundamental support.
So far, data releases have been limited, with the final German CPI print for October remaining unchanged from the preliminary reading at 2.3% year-over-year. ECB’s Schnabel reiterated the central bank’s neutral bias, while signaling concerns over upside risks to inflation. These comments have supported euro area rate expectations, lifting the projected year-end 2026 rates to a fresh local high of 2%.
Interest rate differentials are once again pushing higher, offering the euro additional strength as it extends its recovery. The EUR is threatening fresh local highs above 1.16, and the rebound in the Relative Strength Index (RSI)—currently hovering around the neutral threshold at 50—confirms the moves in spot.
Looking ahead, near-term resistance is limited ahead of the 50-day moving average (1.1662). We expect the EUR/USD pair to trade within a near-term range between 1.1550 and 1.1650.
https://bitcoinethereumnews.com/finance/eur-quiet-and-tentatively-extending-last-weeks-bullish-reversal-scotiabank/
