EUR/USD it is gaining strength above the 200-day moving average (DMA) at 1.0393. Analysts at Société Générale expect the pair to target 1.0630/90 and move above the 1.0480 mark.
The weekly low at 1.0220 provides support
“EUR/USD is attempting to break above the 200 DMA, suggesting the possibility of a continuation of the rebound.”
“Beyond 1.0480, there are other potential obstacles at the 1.0570 and 1.0630/1.0690 projections.”
“The low formed this week at 1.0220 is short-term support.”