EUR/USD neutral/bullish near term – Scotiabank

FX Strategist at Scotiabank still sees the prospect of the pair tilted towards the bullish side.

Key Quotes

“EURUSD rallied hard from support in the mid/upper 1.18s mid-week but has stalled—badly against minor resistance in the 1.20 area on the day so far”.

“The underlying trend higher remains intact but bull momentum has stalled, which may prompt more sideways movement near-term”.

“We see support (firm) at 1.1860. Resistance is 1.2002. We prefer to look for opportunities to buy”.