EUR/USD is moving back below 1.16 this morning. Economists at Société Générale expect the 1.1650 level to cap any attempts to rebound.

See: EUR/USD to trade within a 1.1550-1.1650 range this week – ING 

1.1530 holds the downside

“So long as the 1.1530 area holds, it’s difficult to envisage the pair having a go below 1.15. It’s a similar story to the upside with 1.1625/65 barring the road to 1.17.”

“Without a re-flattening of the US front-end – FF futures are pricing 68% odds of a rate increase by June next year, it will be tricky for the tactical recovery in EUR/USD to broaden beyond 1.1650.”