EUR/USD consolidates after rebounding from the 1.1700 low on Monday. Economists at Société Générale notes that the 1.18 level is the next resistance for the pair.
See – EUR/USD: Rallies towards 1.18 offer an opportunity to sell – OCBC
Forms a daily hammer
“Formation of a daily hammer on Monday points towards initial rebound.”
“50-DMA at 1.1800 is the first layer of resistance.”
“August trough of 1.1660 and projection at 1.1610 are next supports.”
This article was originally published by Fxstreet.com. Read the original article here.
Leave a Reply