EUR/USD has retracted some of the recent gains after facing resistance at the July high of 1.1910. While above the 1.1750 support, the pair can see gains, which will be extended on a break of the aforementioned 1.1910 resistance, economists at Societe Generale report.
“It will be interesting to see if the pair can carve out a higher trough as compared to the one in August at 1.1660.”
“Immediate support is located at 1.1750/1.1730, the 61.8% retracement of the bounce. Holding above this, it could attempt a move towards 1.1855 and 1.1910.”
“Overcoming 1.1910 can result in a larger up move.”