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11 Sep 2015
EUR/USD bullish near term – Scotiabank
FXStreet (Edinburgh) - Eric Theoret, Currency Strategist at Scotiabank, sees the outlook for the pair leaning towards the bullish side in the near term.
Key Quotes
“Near term risk lies with the potential for headline-driven swings out of the two day eurogroup meeting and its rumored discussion of Greek debt relief, with added risk from China’s key releases on Sunday”.
“EUR’s current weakness is notable as we consider the broader tone, one of the key drivers of recent movement in EUR”.
“EUR has resolved its recent consolidation between 100 day MA support (1.1137) and 200 day MA resistance (1.1249), breaking to the upside to test an 8-session high above 1.1300. Resistance is expected at 1.1320, with support likely to be found around the 9 day MA 1.1215”.
Key Quotes
“Near term risk lies with the potential for headline-driven swings out of the two day eurogroup meeting and its rumored discussion of Greek debt relief, with added risk from China’s key releases on Sunday”.
“EUR’s current weakness is notable as we consider the broader tone, one of the key drivers of recent movement in EUR”.
“EUR has resolved its recent consolidation between 100 day MA support (1.1137) and 200 day MA resistance (1.1249), breaking to the upside to test an 8-session high above 1.1300. Resistance is expected at 1.1320, with support likely to be found around the 9 day MA 1.1215”.