EUR/USD to target 1.1040/90 on a move beyond resistance at 1.0940 – SocGen EURUSD Banks
is approaching 1.0940, which is next potential hurdle. A break above here would open up next projections at 1.1040/1.1080, economists at Société Générale report.“The pair has re-established itself beyond the 200DMA in December and is approaching 1.0940, the 50% retracement from 2021. This is an interim resistance. An initial pullback is not ruled out however recent trough near 1.0480 could provide support.
“If EUR/USD overcomes the resistance near 1.0940, the rebound could persist towards next projections at 1.1040/1.1080.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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