FX Strategists at Scotiabank remain neutral/bullish in the near term horizon.
Key Quotes
“EURUSD is trading a little softer on the day and pressuring short-term support around the 1.1620 area”.
“A solid rebound in the EUR last week is not really producing a lot of upside following through but the bullish key reversal day signal still implies substantial support should emerge for the EUR on near-term weakness to the low 1.15s”.
“Trend signals retain a bearish look on the daily and weekly studies but are neutral on the intraday measures, supporting the near-term range trade outlook”.
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