Chief FX Strategist at Scotiabank Shaun Osborne has reiterated the pair’s neutral/bearish outlook in the near term. Key Quotes “EURUSD’s push back form the mid 1.10 area has been gradual and grudging, judging by short-term price action”. “Every minor dip has generated buying interest but the drop back from the intraday peak has continued nonetheless”. “Intraday charts suggest a peak is in place for EURUSD in the short run at least. We think the signaled peak is perhaps a little more important than the short-term price action would otherwise suggest as it comes at a fairly important point on the longer term charts (200-day MA as well as the base of the noted 1.1050/1.11 congestion range)”. “Negative momentum will only build more meaningfully below 1.0940, yesterday’s low, from here”. For more information, read our latest forex news.