Scotiabank: EUR/USD should stay above 1.0167 dollars

Despite the two-day rise in EUR/USD short-term technical indicators of the bank remain the sword territory. From there the pair have underestimated the possibility to develop upward correction, but doubted its continuation.
A return below 1.0485 dollars will return bears full control over the situation.
Calculations of the bank shows that EUR/USD should be worth in excess of 1.0167 dollars.
On Friday the euro lost some positions against the dollar after US NFP data showed, that the average hourly wages has grown unexpectedly.