EUR/USD: Defending 1.0610 crucial for averting a deeper pullback – SocGen EURUSD Banks
staged a steady bounce after defending 100-DMA at 1.0520 but the move faltered near 1.0910. The pair must hold above this Moving Average to avoid a deeper pullback, economists at Société Générale report.“Daily MACD has entered positive territory pointing towards prevalence of upward momentum.”
“If the pair establishes itself above 1.0910, the uptrend could extend towards recent peak of 1.1040/1.1080.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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