EUR/USD: Holding above 1.1495 is critical to see a rebound towards 1.1665 – SocGen

A fifth successive week of selling deflated the single currency back below 1.1550 for the first time since July 2020. Economists at Société Générale expect the EUR/USD to rebound towards 1.1665 while above the 1.1495 support.

Probing weekly Ichimoku cloud 

“EUR/USD is probing the weekly Ichimoku cloud and is close to peak of March 2020 at 1.1495. Defending this can result in a rebound however 1.1665 could cap.”

“Below 1.1495, next support could be at 1.1450 and projections of 1.1380.”