Euro: EUR/USD bearish bias converging on support – Societe Generale

Societe Generale’s FX strategy team reports EUR/USD remains under pressure, trading at a three-month low and moving toward the June low at 1.1325. The bank flags support at 1.1325 and 1.1270, with resistance at 1.1410. Widening 2-year UST/EGB spreads and upcoming US PCE and NFP data are seen pulling EUR/USD closer to these vital support levels.

Pair grinds lower toward key floors

"EUR/USD: 1.1343 - 1.1372 overnight range."

"Bearish bias intact with spot at 3-month low and converging on the June low of 1.1325."

TMGM Analysis: Financial Market News, Economic Calendar & Market Insights

"Support below 1.1300 at 1.1270, resistance 1.1410."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)