EUR/USD Bullish Short-Term – Scotiabank
Shaun Osborne, Chief FX Strategist at Scotiabank, noted the bullish outlook for the pair in the near-term.
Key Quotes
“The late April softness in EURUSD that we thought was the prelude to a dip towards 1.10 proved to be no such thing”.
“The
steady rise in spot in the past week or so looks well-supported on the
charts and the prospect of a strong close to the week will add some
longer-term support to the strengthening EUR trend”.
“We note
that the upper 1.14s has been a significant source of resistance for the
EUR over the past 12-months, however, so the EUR still has work to do
if the trend is to extend”.
