EURUSD: September high at 1.0190 likely to cap short-term upside – SocGen

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The EURUSD gradually heads towards 1.0190. A failure to break out of this region may lead to the downside, report economists at General Company.

Daily RSI Points to Short-Term Bullish Momentum

Interestingly, the daily RSI has recently posted a multi-month high which points to short-term bullish momentum. Should this channel break, a revisit to the September high near 1.0190 is not ruled out. Chart levels 1.0360/1.0450 consistent with 2015/2016 lows would be a key resistance zone.”

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“The failure to break above 1.0190 may take the pair gradually lower towards recent higher lows at 0.9730 and 0.9535. Below this support, the next potential targets are expected at the 0.9200/0.9150 projections.”

Source: Fx Street

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