EUR/USD could extend the rally towards 1.1040/1.1080 on a break past 1.0940 – SocGen EURUSD Banks
has extended its up move after breaking above the December high of 1.0730. Economists at Société Générale note that the pair could target the 1.1040/1.1080 area.“Daily MACD has turned flattish and is at a much lower level as compared to the highs achieved in November denoting receding upward momentum. This is not a reversal signal however a pause is not ruled out.” “In case the pair crosses 1.0940, the up move could extend towards 1.1040/1.1080 and April 2022 high of 1.1185.
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