EUR/USD headed to 1.1000? - Scotiabank

Analysts at Scotiabank EUR/USD explained that the short-term technicals are neutral/bullish.

Key Quotes:

"EUR/USD is firm, trading above the 1.0820/40 resistance range we highlighted last week as key resistance."

"The strength in the EUR is undeniable, with the market extending the rebound from the mid-March low around 1.05 fairly easily over the past two weeks, more easily than EUR bears would care to think about and there is decent traction under this move."

"The key point above here is 1.0875/80—the Dec (ECB day) peak and 200-day MA convergence. Above here puts the EUR firmly on track for 1.1000"