EUR/USD to extend the bounce on a break above 1.1860 – SocGen

EUR/USD recently formed a low near 1.1660 resulting in a phase of rebound. The pair is now probing the daily Ichimoku cloud at 1.1840/1.1860. Overcoming this can result in an extended bounce towards 1.1910 and 200-day moving average (DMA) at 1.1980/1.2010, as reported by Société Générale.

See: EUR/USD to extend its gains toward the 1.1990/1.2005 zone – Commerzbank

EUR/USD moves towards 1.1860 where the next hurdle is situated

“The EUR/USD pair is likely to head higher towards the daily Ichimoku cloud at 1.1840/1.1860. If this is overcome, the bounce could extend towards July peak of 1.1910 with next hurdle at 200-DMA near 1.1980/1.2010.”

“Consolidation above 1.1730/1.1720, the 61.8% retracement of recent rebound will be essential for persistence in up move.”