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EUR/USD rebounds but stalls at resistance near 1.1475-1.1500

Societe Generale says the bounce needs the 1.1475 to 1.1500 zone to extend gains, while a move below 1.1390 would revive the broader downtrend risk.

Reported · Written up by our desk · Major Pairs

EUR/USD has bounced back after an interim low near 1.1325, but the move appears confined within its prior range, pointing to limited follow-through after a recent breakdown, according to a Societe Generale note cited by FXStreet.

The bank highlights resistance at 1.1475 to 1.1500 as the first hurdle for bulls to extend the rebound. It adds that a decline below 1.1390 would threaten a resumption of the broader downtrend.

FXStreet also notes that large option expiries are clustered around 1.1370 to 1.1385 and 1.1400 to 1.1450, which could influence near-term price action.

Looking ahead, the note points to upcoming US data and events next week, including US CPI and PPI and Warsh semi-annual testimony, as key catalysts for the dollar and the pair.

Latest closeEUR/USD 1.144 ▲0.3%

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