24 Jul 2015
EUR/USD neutral in the near term – Scotiabank
FXStreet (Edinburgh) - Eric Theoret, Currency Strategist at Scotiabank, noted the neutral stance on the pair in the short term.
Key Quotes
“EUR’s recent rally has been challenged by resistance at 1.1000, a near-term level of resistance that we expect to be broken on a test toward 1.1200”.
“Thursday’s noted triangular consolidation pattern highlighted EUR support off the rising trendline from lows in April and March, as we note limited resistance until 1.1250”.
“We look to a near term break of both the 100 day MA (1.1003) and 50 day MA (1.1109)”.
Key Quotes
“EUR’s recent rally has been challenged by resistance at 1.1000, a near-term level of resistance that we expect to be broken on a test toward 1.1200”.
“Thursday’s noted triangular consolidation pattern highlighted EUR support off the rising trendline from lows in April and March, as we note limited resistance until 1.1250”.
“We look to a near term break of both the 100 day MA (1.1003) and 50 day MA (1.1109)”.