Societe Generale analysts observe EUR/USD has rebounded after defending the April low at 1.1500 but see no clear signs yet of a broader uptrend. They stress the importance of the 200‑day moving average near 1.1675/1.1690 as a key resistance area, with 1.1500 remaining crucial support as the Euro consolidates around 1.16 in rangebound trading.

Key moving averages frame euro range

"EUR/USD has staged a brief rebound after defending the April low of 1.1500."

"However, signals of a broader up move are not yet evident."

"It will be important to observe whether EUR/USD can overcome the 200‑DMA near 1.1675/1.1690, which also represents the descending trend line drawn since January."

"A break above this hurdle may trigger a larger rebound."

"The recent pivot low at 1.1500 remains a crucial support."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)