Euro: Rebound eyes 200‑DMA hurdle – Societe Generale
Societe Generale analysts observe EUR/USD has rebounded after defending the April low at 1.1500 but see no clear signs yet of a broader uptrend. They stress the importance of the 200‑day moving average near 1.1675/1.1690 as a key resistance area, with 1.1500 remaining crucial support as the Euro consolidates around 1.16 in rangebound trading.
Key moving averages frame euro range
"EUR/USD has staged a brief rebound after defending the April low of 1.1500."
"However, signals of a broader up move are not yet evident."
"It will be important to observe whether EUR/USD can overcome the 200‑DMA near 1.1675/1.1690, which also represents the descending trend line drawn since January."
"A break above this hurdle may trigger a larger rebound."
"The recent pivot low at 1.1500 remains a crucial support."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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