EUR/USD faces intraday resistance at 1.1660 – Scotiabank

FX Strategists at UOB Group remain neutral/bullish on the pair, adding that resistance lies in the 1.1660 region.

Key Quotes

“The EUR closed strongly overall on the week last week and we think there are grounds for technical bullishness on the basis of longer run price action recently – sell-off, stabilization and reversal weeks over the past three weeks suggests a “morning star” type reversal”.

“Sustained gains through 1.16 should see EURUSD gain a little more traction in the short and medium-term charts. We see chart support at 1.1590 intraday and resistance at 1.1660.