EUR/USD clears channel resistance, eyes 1.1470 next – Société Générale
Source Fxstreet
EUR/USD is showing renewed upward momentum after defending key support, breaking out of its recent channel and regaining technical strength. With bullish signals in place, the pair appears poised for further gains in the near term, Société Générale's FX analysts note.
50-DMA hold at 1.1245/1.1200 reinforces bullish bias
"EUR/USD broke out from a short-term channel after defending the 50-DMA near 1.1065 (now at 1.1245). Daily MACD remains anchored within positive territory and has crossed above its trigger line highlighting regaining upward momentum."
"The pair looks poised to head higher gradually towards 1.1470 and April high of 1.1570. The 50-DMA and recent pivot low of 1.1245/1.1200 is an important support zone near term."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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