EUR/USD has reclaimed the 1.1650 level as a bounce is under way. Economists at Société Générale expect the pair to extend its advance to the 1.1750 region.

Next hurdle on the upside sits at 1.1670

“The pair could attempt a rebound towards 1.1670 and perhaps even towards 1.1750, the upper limit of a multi month descending channel.”

“August/September high of 1.1910/1.1940 remains an important resistance zone near-term.” 

“First support is located at 1.1570.”