EUR/USD outlook neutral/negative – Scotiabank

FX Strategists at Scotiabank noted the neutral/bearish outlook on the pair in the short term.

Key Quotes

“EURUSD has put in some good work on the charts in the past few days— possibly signaling scope for a minor reversal”.

“Follow through interest has been limited and buying power relatively weak—with noted resistance at 1.0950 holding yesterday’s advance”.

“The underlying technical situation is negative for the EUR but short-term pressure may ease if EURUSD rallies above 1.0935 (and holds the break) intraday. That may pave the way for a rebound towards 1.10/1.11”.