EUR/USD: techncially bearish, with caution – Scotiabank

FX Street

Updated: 28 May. 2018 | 19:56

Analysts at Scotiabank explained the technical outlook for EUR/USD.

Key Quotes:

“EUR/USD short-term technicals are bearish, with caution.”

“EUR is showing signs of near-term stabilization in the mid-1.16s after testing a fresh marginal 2018 low.”

“Momentum indicators appear exhausted in oversold territory.”

“Additional support appears limited ahead of 1.1550 and near-term resistance is expected above 1.1720.”

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