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10 Feb 2016
EUR/USD remains bullish - Scotiabank
Shaun Osborne Chief FX Strategist at Scotiabank explained that from a technical point of view, the EURUSD outlook still looks quite promising.
Key Quotes:
"However; the sustained break above weekly trend resistance (off the mid 2015 high) is a positive and while spot has slipped overnight, losses are contained to the low 1.12 area, the scene of yesterday’s break higher above 1.1235.
We see resistance at 1.13, support in the low 1.12s and suspect the market will go with a break either side of that range today."
Key Quotes:
"However; the sustained break above weekly trend resistance (off the mid 2015 high) is a positive and while spot has slipped overnight, losses are contained to the low 1.12 area, the scene of yesterday’s break higher above 1.1235.
We see resistance at 1.13, support in the low 1.12s and suspect the market will go with a break either side of that range today."