EUR/USD: Bounce could persist while above 1.1300/1.1260 – SocGen

EUR/USD fluctuates in a very tight range above 1.1400 for the second straight day. Economists at Société Générale expect the world’s most popular currency pair to head higher towards 1.1525/1.1590 while the 1.1300/1.1260 area holds.

Next potential hurdle is at 1.1525/1.1590

“Daily Ichimoku cloud at 1.1300/1.1260 is near-term support. Defending this, the bounce could persist.”

“Next potential hurdle is at 1.1525/1.1590, the low of October.”

See: EUR/USD to break below 1.14 on accelerated US inflation – ING