EUR/USD moves slowly towards June peak of 1.0915/1.0980 – Societe Generale

EUR/USD bounce has extended beyond 200-DMA. The pair is inching towards 1.0915/1.0980 (an important hurdle), Societe Generale FX strategists note.

EUR/USD to test the important hurdle at 1.0915/1.0980

“EUR/USD bounce has extended beyond 200-DMA; it is inching towards June peak of 1.0915/1.0980 which could be an important hurdle. Inability to cross can lead to a brief pullback; the MA at 1.0800 should cushion decline.

“Resistances are seen at 1.0915/1.0930, 1.0980 and 1.1010.”

“Supports are seen at 1.0840, 1.0800 and 1.0775.”