EUR/USD breaks out of range – Société Générale

EUR/USD has broken higher, reinforcing bullish momentum with MACD firmly positive and upside projections pointing to 1.1925 and 1.2000, while the 50-DMA offers a strong safety net on pullbacks, Société Générale's FX analysts note.

Momentum favors Euro bulls

"EUR/USD has broken above the upper boundary of its recent consolidation range, signalling a resumption of the prevailing uptrend. The daily MACD continues to hold firmly in positive territory, underscoring the dominance of upward momentum."

"The pair looks poised to head toward the next projections at 1.1925 and 1.2000. If a short-term pullback occurs, the 50-DMA around 1.1660 is expected to act as a support."