EUR/USD to extend its decline on a break below 1.1495 – SocGen

EUR/USD is in proximity to the peak of March 2020 at 1.1495. A loss of this level would imply a deeper dip to the 1.1450 mark, economists at  Société Générale report. 

Initial bounce not ruled out

“An initial rebound is not ruled out, 1.1640/1.1665 could be the first layer of resistance.” 

“Failure to hold above 1.1495 can result in continuation of decline towards 1.1450 and projections of 1.1380.”