EUR/USD: Inability to overcome 1.0950 may lead to a pullback – Société Générale
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EUR/USD experienced a steep up move earlier this month and reclaimed its 200-DMA (now at 1.0725), Société Générale's FX analysts note.
200-DMA at 1.0760/1.0725 can be a short-term support zone
"It has faced strong resistance near 1.0950. Daily MACD has rolled over after registering multi-month highs and is challenging its trigger line; this is not a reversal signal but points towards receding upward momentum."
"A brief pause can’t be ruled out after recent stretched move. Inability to overcome 1.0950 may lead to a pullback; the 200-DMA at 1.0760/1.0725 could be a short-term support zone."
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