EUR/USD appears supported around 1.1900 – Scotiabank

Shaun Osborne, Chief FX Strategist at Scotiabank, noted EUR/USD stays supported around the 1.1900 area.

Key Quotes

“Spot remains well-supported on dips, as we expected, and the internal dynamics of the current bull trend are favourable – and strengthening. Spot is testing minor resistance at 1.1975 at writing and looks set to extend higher towards the 1.2050/70 area fairly quickly”.

“We see little resistance until the 1.2165/70 zone above here. Intraday support at 1.1900/05 should be firm but a break here will undercut the strength of the bull trend in the short run at least and threaten the mid- 1.18s”.