#EURUSD @ 1.07509 : Temporary setback or deeper correction? 50-DMA at 1.0680 holds the key – SocGen
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EUR/USD moved below 1.08. A break under the 50-Day Moving Average (DMA) at 1.0680 could deepen the fall, economists at Société Générale report.
“Formation of weekly Inverted Hammer points towards the possibility of a pause.”
“The 50-DMA at 1.0680 is crucial support. Break can lead to a deeper pullback towards January low of 1.0480.”
“Reclaiming 1.1040 would be essential to affirm the next leg of up move.”
See – EUR/USD: Risks are skewed towards further pullback – OCBC
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