EUR/USD to test March 2020 low of 1.0636 on a drop below 1.07

THE EUR/USD pair firmly broke under the 1.08 figure, surpassing last week’s intraday lows, and tested the low-1.07s. After the 1.07 level, the March 2020 low of 1.0636 stands as key support, economists at Scotiabank report.

The 1.07 zone stands as key support ahead of the next key level of 1.0636 – its March 2020 low. Resistance after the mid-1.07s is ~1.0780, the 1.08 area and the mid-1.08s.