EUR/USD neutral/bearish near term – Scotiabank

Shaun Osborne, Chief FX Strategist at Scotiabank, noted the pair’s outlook remains on a neutral/bearish in the short-term horizon.

Key Quotes

“The short-term technical read remains rather flat for EURUSD”.

“While the EUR closed lower Friday overall, putting a softer m/t spin on the charts, we do not anticipate significant losses for the EUR; rather, we think flat trends signals suggest the EUR will trade in a sideways manner in a broad range”.

“We continue to see support in the low 1.11 area and resistance at 1.1185”.