EUR/USD: rises above 1.08 are selling opportunities at this time (Scotiabank)

According to Scotiabank's technical analysis, neutral trend oscillators support expectations of an evolution in a range rather than a break:

"EUR/USD seemed blocked under the 1.08 zone earlier in the week but downside follow-up was limited and the intraday picture for the euro looks a little more positive, with the market reversing since 1.0770. The overall picture seems mixed, with the recent rally extending farther than expected, but struggling around the resistance levels in the 1.0820/40 range. Neutral trend oscillators support the impression of an evolution within a range, rather than a break, meaning that increases above 1.08 remain selling opportunities for the time being."