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ForexMedium•13 February 2026•

1 min read

Scotiabank Forecasts EUR/USD Breakout Toward 1.20 Level

Two central bankers, Christine Lagarde and Thomas Jordan, with EU and Swiss flags, Euro and Swiss Franc symbols, and coins.

Analysts at Scotiabank have maintained a bullish outlook for the EUR/USD pair, targeting a potential breakout above the 1.20 psychological barrier. Despite a brief period of volatility following the recent US Non-Farm Payrolls (NFP) data, the single currency has shown resilience and is currently stabilizing. The bank's research highlights that improving yield spreads and favorable options pricing are providing significant tailwinds for the Euro. Furthermore, technical indicators suggest that the currency pair is returning to its fundamental drivers after temporary market noise. This optimistic stance reflects a broader expectation of sustained momentum for the Eurozone's currency against the US Dollar.