The EUR/USD it is approaching 1.0940 which is the next potential hurdle. A break above this level would open the next projections at 1.1040/1.1080, they report Société Générale economists.
The recent low near 1.0480 could serve as support
“The pair has restored past the Dec 200 DMA and is approaching 1.0940, the 50% retracement since 2021. This is tentative resistance. An initial pullback is not ruled out, however, the recent low near of 1.0480 could provide support.”
“The chart level at 1.0220/1.0200 should now be an important level should a deeper pullback materialize.”
“If EUR/USD breaks resistance near 1.0940, the bounce could persist towards the next projections at 1.1040/1.1080.”
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.
