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In view of FX Strategists at Scotiabank, short-term technicals keep pointing to the neutral side.

Key Quotes

“Spot is little changed after gaining modestly yesterday. The market remains effectively range bound, however. EURUSD found firm support in the mid/upper 1.13s this week but really needs to break recent peaks at 1.1430/35 to improve”.

“Sideways range trading suggests a stabilization in recent weakness but price action has not yet done enough to suggest a reversal higher is in store”.

“Market moves near-term will go with either a push below 1.1360 or a break above 1.1400″.