EUR/USD peaked around 1.2440? – Scotiabank

FX Strategists at Scotiabank noted the near term outlook for the pair stays neutral/bearish.

Key Quotes

“EURUSD gains extended towards the mid 1.24 area earlier in the session but softer trends have developed through European trading, putting a bit of dent in short-term price signals”.

“The 6-hour candle shows a bearish outside range signal forming intraday, which suggests a peak in the market around 1.2440 and the potential for the EUR to slide back to the mid 1.23 area on a break under 1.2405 short-term trend support”.