EUR/USD: Rebound towards 1.1900 is likely - Société Générale

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12 July 2021

EUR/USD: Rebound towards 1.1900 is likely - Société Générale

NFXStreet notes that 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.

“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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