EUR/USD: July highs of 1.1781/93 to be the next objective – Societe Generale

In their weekly FX outlook published over the weekend, analysts at Societe Generale offered a technical view on the EUR/USD pair for the ECB-week ahead.

Key Quotes:

“EUR/USD probed the projections at 1.13/1.1295 for the correction since February from an Elliot wave standpoint. After forming a weekly hammer, it has started staging a recovery and has met initial target near 1.1755 which is also the 100-day MA. July highs of 1.1781/93 will be the next objective.

Resistances: 1.1781/93, 1.1755, 1.1690 

Supports: 1.1530/10, 1.1467, 1.1400.”