EUR/USD is undergoing broad consolidation - SocGen

Research Team at Societe Generale, suggests that after testing key levels 1.06/1.05 last year, EUR/USD is undergoing broad consolidation.

Key Quotes

“1.05 will decide about next leg of down cycle. Short term, the pair is developing a sub-range within the broader consolidation and is closing in on the upper limit at 1.1460. This is likely to be an important hurdle near term.”