EUR/USD: the euro still seems bullish in the short term (Scotiabank)

Scotiabank believes that the EUR/USD could remain bullish in the short term.

"The EUR/USD has found stable demand since the break through the minor resistance line in the upper 1.18 zone at the end of last week.

Short-term momentum remains positive and the longer-term indicators are bullish.

We see a support level around 1.1940 and anticipate a rise of the EUR/USD above 1.2010/20."