EUR/USD neutral/bearish near term – Scotiabank

Chief FX Strategist at Scotiabank Shaun Osborne noted the neutral/bearish outlook on the pair in the short term.

Key Quotes

“We maintain a cautious view of EURUSD from a technical perspective”.

“The market is grinding higher after the late June dip to near 1.09 still but gains are relatively muted and appear corrective, ahead of another push lower”.

“Intraday price action looks soft after the overnight rejection of 1.1160. We see firm resistance at 1.1160/70 and 1.1190/95. Support is 1.1120”.