Home›Forex›Major Pairs›EUR/USD stalls as Societe Generale flags 1.14 hurdle f…

EUR/USD stalls as Societe Generale flags 1.14 hurdle for dollar correction

Societe Generale said EUR/USD needs to reclaim at least 1.14, or the rally may be treated as a chance to sell the euro, reinforcing negative sentiment tied to softer European data.

Reported · Written up by our desk · Major Pairs

Societe Generale’s Kit Juckes said conditions are building for a Dollar correction, citing easing Oil and bond yields alongside firmer equities, with month end flows potentially adding to the move in EUR/USD.

He warned that the outlook hinges on whether EUR/USD can reclaim at least 1.14, otherwise the Dollar strength may be reframed by traders as another opportunity to sell the Euro.

FXStreet also noted that if the pair fails to clear that level, sentiment may remain pressured by softer European data, consistent with Juckes’ call for caution.

Separately, FXStreet referenced broader currency context in the same session, including AUD/USD sitting near 0.6950 after below expectation Australian underlying CPI data and Chinese PMI failing to boost the Australian Dollar.

Latest closeEUR/USD 1.137 ▼0.1%

More like this

Sources