EUR/USD neutral to bullish short-term – Scotiabank

Shaun Osborne, Chief FX Strategist at Scotiabank, noted the neutral/bias outlook on the pair in the near term.

Key Quotes

“The broader technical picture for EURUSD is weak but the intraday outlook is a little more constructive after spot tested, and recovered from, the 1.0585 area three times in overnight trading”.

“A short-term rebound may extend to the low/mid 1.06 area (in effect, not much better than current levels)”.

“But a higher close today would break the cycle of consecutive daily losses that have characterized the post-election environment for EURUSD and might open up the topside for a little more corrective action”.

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