EUR/USD will be able to push on to 1.11/1.12 in the next few weeks – Scotiabank

The EUR is underperforming on the session. Economists at Scotiabank analyze Euro’s outlook.

Intraday price action does look potentially soft

Intraday price action does look potentially soft. Spot formed a minor bear reversal signal through European trade but trend dynamics remain bullish and are more strongly positioned overall than late last month. That should mean limited downside risk for the EUR at this point. 

I think the EUR will be able to push on to 1.11/1.12 in the next few weeks.