EUR/USD: Holding above August low at 1.1664 is crucial to see a rebound – SocGen

EUR/USD nears the August low of 1.1664. Defending this level is crucial for rebound, economists at Société Générale report.

August low at 1.1664 guards the 1.1610 level 

“EUR/USD is approaching the low formed in August at 1.1660. Defending this can result in a bounce, however, multi month trend line near 1.1800 must be reclaimed for an extended bounce.” 

“Next downside projections are located near 1.1610.”