Euro: Support holds near 1.15 against US Dollar – Scotiabank
The EUR/USD pair is currently holding support near the 1.15 level, as noted by Scotiabank. This stability suggests a potential consolidation phase for the Euro, especially as market attention turns to upcoming economic indicators and the ECB's stance on interest rates. The EUR remains in a neutral sentiment zone, reflecting mixed trader positioning as it navigates between strengthening fundamentals and geopolitical uncertainties.
Where it sits in our coverage
Our consensus EUR/USD target stands at 1.1700 (median across 12 firms), with forecasts ranging from 1.1200 at Danske Bank to 1.2300 at Morgan Stanley. Scotiabank aligns closely with this by maintaining a similar outlook as their recent revision to 1.1734 for March 2026 indicates.
How firms align
Scotiabank’s recent target is consistent with our view, while firms like RBC and UBS also project a near-term EUR strength with targets of 1.1700 and 1.2000, respectively. For more insights, refer to our reports on [RBC's EUR forecasts](/reports/rbc) and [UBS's outlook](/reports/ubs).
What the data shows
Recent revisions highlight an upward trend towards 1.1800 from firms like Mizuho and Nomura, which reflects growing optimism in the Euro. Additional research can be found in our article [EUR/USD Trades 1.41% Below Dec-26 Consensus]( /research/eurusd-ecb-rate-path).
How firms align with this view
Aligned with the headline view
Contrary positioning
Key takeaways
- 01EUR/USD support near 1.15 suggests stabilization for the Euro.
- 02Watch for clarity on economic indicators from the Eurozone.
- 03Risk of downside exists if inflation data underperforms current ECB expectations.
Market implications
Traders should monitor the 1.15 support level closely. Upcoming ECB announcements and economic data releases will likely drive volatility. Our consensus target of 1.1700 indicates potential upside if conditions align favorably.
Risks to this view
A significant catalyst for reversal could be a hawkish tilt from the Federal Reserve or notably weak Eurozone economic data that pressures the ECB to reconsider. Watch for unexpected shifts in geopolitical tensions as well.
Sentiment by currency
USD~EUR~JPY~GBP~Composite USD score: +0.00
Firms mentioned
Sources & References
How we cover this story
Other coverage on this pair
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