EUR/USD set to tackle the 1.1810 hurdle – SocGen

EUR/USD has formed a low near 1.1660 last week after which a bounce is underway. In the view of economists at  Société Générale, the pair is set to strengthen for the third day.

Retest of 1.1810 seems likely

“A multi-month descending trend line at 1.1810 is the first hurdle, this must be reclaimed for an extended up-move.”

“Below 1.1660, next potential supports are projections of 1.1640 and 1.1610.”