EUR/USD: Defense of 1.0680 crucial to avert deeper fall – SocGen

Market news

8 February 2023

EUR/USD: Defense of 1.0680 crucial to avert deeper fall – SocGen

For EUR/USD, immediate support lies at 1.0680. A break below here would open up room for more losses towards January low of 1.0480, economists at Société Générale report.

January peak of 1.0940 should cap

“EUR/USD has staged a pullback towards the 50-DMA at 1.0680 which is a potential support. A bounce is not ruled out, however, January peak of 1.0940 should cap.”

“Break of 1.0680 can extend the decline towards 1.0560 and January low of 1.0480.”

See – EUR/USD: Further explorations below 1.0700 are possible in the coming days – ING

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