EUR/USD stays neutral/bullish near term – Scotiabank

According to FX Strategists at Scotiabank, the pair’s near term outlook point to the neutral/bullish side.

Key Quotes

“EURUSD effectively held support in the upper 1.16s through yesterday’s trading and spot has continued to consolidate through the middle of the week”.

“The technical undertone for the EUR remains constructive on the short-term charts but spot will have to push on – sooner rather than later - if positive momentum is to be sustained. We see the top of the consolidation band at 1.1715 and look for the EUR rally to extend above here towards 1.1790/00. Support is 1.1645/50”.