6 May 2016
EUR/USD points southwards near-term – Scotiabank
Shaun Osborne, Chief FX Strategist at Scotiabank, argued the pair risks further downside in the short-term.
Key Quotes
“Spot found support in the upper 1.13 area overnight, steadying the sell-off from Monday’s peak near 1.1625”.
“From a longer-term point of view, this week’s price action reaffirms the strength of resistance (weekly close basis) at 1.1465”.
“Intraday, we look for EUR gains to remain capped below 1.1475. Losses should extend below 1.1375”.
Key Quotes
“Spot found support in the upper 1.13 area overnight, steadying the sell-off from Monday’s peak near 1.1625”.
“From a longer-term point of view, this week’s price action reaffirms the strength of resistance (weekly close basis) at 1.1465”.
“Intraday, we look for EUR gains to remain capped below 1.1475. Losses should extend below 1.1375”.