EUR/USD to surge higher above the 1.1910 resistance – SocGen

EUR/USD is on course for a second straight weekly gain for the first time since May as the pair has now recovered from the 1.1664 low on 20 August. In the view of economists at Société Générale, EUR/USD should retest 1.1910.

See: EUR/USD has the 1.1975 mark in its sights on soft NFP expectations – TDS

Resistance seen at 1.1910

“A return to the middle of the three-month range around 1.1965 (1.1662-1.2265) is not impossible if the dollar can’t rediscover its poise after payrolls today.”

“EUR/USD has entered daily Ichimoku cloud and could head higher towards 1.1910 with possibility to retest 200-DMA at 1.1980/1.2010.”

“Consolidation above 1.1730 will be crucial for rebound.”