Scotiabank sees EUR/USD bullish momentum targeting mid-1.17s
Scotiabank strategists say the euro is holding near 1.1576 and short-term EUR/USD technicals look bullish, with momentum targeting the mid-1.17 area.
EURUSD
Scotiabank strategists Shaun Osborne and Eric Theoret point to a resilient euro around 1.1576. Germany’s ZEW survey showed improving expectations, consistent with a slow recovery backdrop.
Short-term EUR/USD technicals are described as bullish, with strong intraday and daily momentum. That sets up a bullish bias toward the mid-1.17s.
The note highlights improving sentiment rather than a rapid acceleration in the eurozone economy.
Source: FXStreet Forex News