EUR/USD neutral/bullish, attention to 1.1725 – Scotiabank

Pablo Piovano FXStreet

FX Strategists at Scotiabank noted the pair should ideally advance to 1.1725 to allow for extra gains.

Key Quotes

“EURUSD is slightly better positioned on the short-term charts following the sharp move through the 1.16 area yesterday, leaving a small gap on the intraday chart which now serves as support for the market intraday”.

“The 1- and 6-hour trend signals are aligned a little more positively for the EUR which should underpin near-term support for the EUR. We spot resistance at 1.1650, however, and rather feel that the EUR will need to push on to – and extend through – 1.1725 to bolster risks of a more sustained move (towards 1.19/1.20)”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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