Euro Recovery Against US Dollar Targets Key Fibonacci Level, Scotiabank Says

BitcoinWorld Euro Recovery Against US Dollar Targets Key Fibonacci Level, Scotiabank Says The Euro has been staging a notable recovery against the US dollar in recent trading sessions, with analysts at Scotiabank now eyeing a key Fibonacci retracement level as the next significant target for the EUR/USD pair. The move comes amid shifting market expectations for US monetary policy and renewed focus on technical resistance zones. Technical Outlook and Key Levels According to Scotiabank’s latest technical analysis, the Euro’s rebound has brought the pair closer to a critical resistance level defined by the 61.8% Fibonacci retracement of the recent downtrend. This level, often seen as a potential pivot point, is being closely monitored by traders for signs of either a breakout or a reversal. The currency pair has found support in recent days, driven by a combination of softer US economic d