EUR/USD tests key multi-month resistance – Société Générale

EUR/USD has shown signs of recovery following a break from a short-term downtrend, yet is currently stalled near a key resistance level at 1.18. This area is likely to lead to short-term consolidation, making it crucial for determining whether a more significant bullish trend will unfold. According to Société Générale's FX analysts, this resistance level is often a focal point for market participants, and reactions here could greatly influence the direction of EUR/USD. A breakthrough above 1.18 could set the stage for targeting even higher levels, but for now, the market lacks clear direction. Traders should closely monitor forthcoming movements and await definitive signals such as a breakout.