The EUR/USD is recovering bullish traction after defending its 50 -day SMA and breaking above a short -term channel, with impulse indicators that support a key level of resistance levels, the foreign currency analysts of Société Générale indicate.
The euro recovers bunder impulse
“The EUR/USD defended the 50 -day SMA about 1,1065 (now in 1,1300) and left a short -term channel that denotes the recovery of the bullish impulse. This also stands out in the Daily MACD, which remains anchored in positive territory and has crossed above the activation line.”
“The torque is approaching to the maximum of April 1,1570/1,1610. The defense of the recent pivotant in 1,1370 will be crucial for persistence in the upward movement. If the torque is established above 1,1570/1,1610, the upward movement could extend to projections of 1,1780 and 1,1885.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
