Scotiabank strategists see limited near-term movement for the pair, citing resistance at 1.14–1.1450 and a need for a 1.15 breakout.
EUR/USD remains confined to a short-term trading range between 1.1360 and 1.1450 as markets await remarks from ECB President Christine Lagarde at the Sintra symposium. Strategists describe the pair as neutral to bullish but note resistance near 1.14–1.1450 limits upward momentum.
Historically, the Sintra forum has had minimal impact on short-term price action, and this year’s event—featuring central bankers like the Fed’s Jerome Powell and BoC’s Tiff Macklem—may follow a similar pattern. A break above 1.15 is seen as necessary to strengthen the euro’s recovery prospects.
The pair’s current mid-channel position offers little incentive for traders to take new positions, with strategists emphasizing the need for a clear catalyst to shift sentiment.