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EUR/USD found some stability, albeit at lower ground. Can it continue falling? There is one important line to watch.

Here is their view, courtesy of eFXdata:

Societe Generale Cross Asset Strategy Research discusses EUR/USD outlook and thinks thata break below the psychologically important 1.15 level could still be on the cards in the coming days.

“A calmer market today may also tell us something about EUR/USD positioning. EUR/USD has been trying to re-couple with relative interest rates in recent days and a fresh Treasury sell-off would embolden dollar bulls who don’t need much encouragement.

We struggle to see how we avoid a break below the psychologically important 1.15 level in the coming days.  1.1450 is the key support, but not terribly optimistic about that holding either,” SocGen argues.

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