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."

"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.)