EUR/USD: Defending the 1.1540/1.1495 support zone is critical to see a rebound – SocGen

EUR/USD has extended its downtrend after breaching August low at 1.1664. Economists at Société Générale expect the euro to stage a rebound if the pair holds above the 1.1540/1.1495 region.

1.1540/1.1495 is crucial support

“Next potential support is at 1.1540/1.1495 representing the weekly Ichimoku cloud and the peak of March 2020. Defending this zone can result in an initial rebound.”

“1.1750 caps upside.”