EUR/USD’s rebound from 1.1782 low last week fizzles out. Nonetheless, economists at Société Générale expect the pair to surpass the 1.1900 level towards the 200-day moving average.
Important resistance seen at 1.1900
“EUR/USD has embarked on a rebound after forming a bullish engulfing near a multi month line at 1.1770.”
“Overcoming 1.1900 can lead to a larger bounce towards 200-DMA at 1.1980/1.2010.”
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