EUR/USD: Rebound towards 1.1900 is likely – SocGen

EUR/USD’s rebound from 1.1782 low last week fizzles out. Nonetheless, economists at Société Générale expect the pair to surpass the 1.1900 level towards the 200-day moving average.

Important resistance seen at 1.1900

“EUR/USD has embarked on a rebound after forming a bullish engulfing near a multi month line at 1.1770.”

“Overcoming 1.1900 can lead to a larger bounce towards 200-DMA at 1.1980/1.2010.”