EUR/USD to extend its decline on a break below 1.1495 – SocGen

FXStreet Insights Team FXStreet

EUR/USD is in proximity to the peak of March 2020 at 1.1495. A loss of this level would imply a deeper dip to the 1.1450 mark, economists at Société Générale report.

Initial bounce not ruled out

“An initial rebound is not ruled out, 1.1640/1.1665 could be the first layer of resistance.”

“Failure to hold above 1.1495 can result in continuation of decline towards 1.1450 and projections of 1.1380.”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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