eFX with the notes from the technical strategy teams at SocGen and Credit Suisse
Some insights on EUR/USD setup and projected path in the near-term
“After breaching the flag formation, EUR/USD is now closing in on
March lows near 1.0550/1.05. More importantly this is the multi decadal
upward channel support. Monthly RSI has retraced after testing a
horizontal resistance which suggests there is a possibility of further
downtrend towards monthly descending channel at 1.04. The ongoing
correction is retracing the 2000-2008 up move however