EUR/USD short-term bias remains bearish – Scotiabank

In view of Shaun Osborne, Chief FX Strategist at Scotiabank, the pair’s outlook remains in the bearish camp in the near-term.

Key Quotes

“We continue to feel that EURUSD set a short-term peak/reversal at 1.1435; soft price action tends to support that view but, so far, the market has been reluctant to push the EUR decisively below the 1.1350 area”.

“We see support at 1.1330/40 intraday and think that short-term momentum has shifted enough to put support under a little more obvious pressure today”.

“A break lower would point the market in the direction of a drop to the 1.1150/1.12 area near-term, we think”.