EUR/USD is approaching 1.0940, which is next potential hurdle. A break above here would open up next projections at 1.1040/1.1080, economists at Société Générale report.
Recent trough near 1.0480 could provide support
“The pair has re-established itself beyond the 200DMA in December and is approaching 1.0940, the 50% retracement from 2021. This is an interim resistance. An initial pullback is not ruled out however recent trough near 1.0480 could provide support.”
“Graphical level at 1.0220/1.0200 should now be an important level in case a deeper pullback materializes.”
“If EUR/USD overcomes the resistance near 1.0940, the rebound could persist towards next projections at 1.1040/1.1080.”
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