Next objectives are located at 1.0570/1.0630 – Société Générale

EUR/USD bounce has stalled after facing interim resistance near 1.0535 earlier this week, Société Générale’s FX analysts note.

EUR/USD regains upward momentum

“Daily MACD has been posting positive divergence and has recently crossed above equilibrium line denoting regain of upward momentum. 1.0350/1.0310, the 50% retracement of recent rebound is first support. Defence of this can lead to persistence in rebound. Beyond 1.0535, next objectives could be located at December high of 1.0570/1.0630.”