EUR/USD: headed to 1.2000? - Scotiabank

Analysts at Scotiabank noted that spot ground higher yesterday after establishing a foothold above the 1.1780 area – much as we expected. 

Key Quotes:

"The upper 1.17s served as support for the EUR in choppy trade overnight.

 We think gains through the low 1.18s will avert immediate risks of additional EUR weakness (towards the upper 1.16s and below) and put the EUR on track for a retest of the 1.120 area."