EUR/USD to move downward towards the 1.0840 mark – SocGen

EUR/USD has breached the low of January at 1.1120 denoting persistence of downward momentum. Economists at Société Générale expect to see a steady decline towards 1.0840 on a break under the 1.1080/1.1040 zone.

Downside momentum intact

“Next potential support levels are located at projections of 1.1080/1.1040 and a multiyear trend line at 1.0840.”

“Daily Kijun line at 1.1290 caps upside.”