Forex Flash: EUR/USD bullish, risk/reward skewed - Scotiabank

FXstreet.com (San Francisco) - EURUSD climbed to an 8-week high of 1.2640 on Friday, but has since pulled back below the 1.2600 figure to current prices around 1.2575 ahead of the weekly close. According to Camilla Sutton, CFA, CMT, Chief Currency Strategist at Soctiabank, EURUSD maintains a bullish profile in the near-term, "but risk/reward is skewed," she says. "100-day MA providing resistance at 1.2584, a break above would open up a temporary test to the June high of 1.2743; support at 1.2366, 50-day."