EUR/USD is exhibiting renewed upward momentum after defending key help, breaking out of its current channel and regaining technical power. With bullish alerts in place, the pair seems poised for additional good points within the close to time period, Société Générale’s FX analysts notice.
50-DMA maintain at 1.1245/1.1200 reinforces bullish bias
“EUR/USD broke out from a short-term channel after defending the 50-DMA close to 1.1065 (now at 1.1245). Every day MACD stays anchored inside constructive territory and has crossed above its set off line highlighting regaining upward momentum.”
“The pair seems to be poised to move greater steadily in the direction of 1.1470 and April excessive of 1.1570. The 50-DMA and up to date pivot low of 1.1245/1.1200 is a vital help zone close to time period.”
