EUR/USD: Inability to overcome 1.0950 may lead to a pullback – Societe Generale

EUR/USD experienced a steep up move earlier this month and reclaimed its 200-DMA (now at 1.0725), Societe Generale's FX analysts report.

1.0760/1.0725 can be a short-term support zone

"It has faced strong resistance near 1.0950. Daily MACD has dipped below its trigger line; this is not a reversal signal but points towards receding upward momentum. A brief pause can’t be ruled out after recent stretched move. Inability to overcome 1.0950 may lead to a pullback; the 200-DMA at 1.0760/1.0725 could be a short-term support zone."