EUR/USD neutral/bullish near term – Scotiabank

FX Strategists at UOB Group noted spot should remain well underpinned on occasional dips.

Key Quotes

“EURUSD is firmer but intraday patterns suggest some resistance developing around the 1.20 area through the European morning session”.

“Broader patterns are constructive, with the underlying trend well established and supported by bullish trend signals across a range of timeframes”.

“Charts suggest the EUR should remain well supported on dips and that the market is shaping up for another push on to 1.21. Support is 1.1955 and 1.1850/55”.