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IPC Index — Mexico MarketEUR/USD failed to sustain a breakout above the 1.1800–1.1830 resistance zone and has since broken below its short-term rising trend line, shifting near-term risks toward a corrective decline with key support seen at the 200-day moving average around 1.1550–1.1590, Société Générale’s FX analysts note.
Uptrend break signals fading momentum
“EUR/USD recently tested the upper boundary of its multi-month consolidation around 1.1800/1.1830, a key resistance zone, before pulling back sharply. The pair has broken below a short-term ascending trend line, signalling weakening upward momentum.”
“The December low near 1.1590/1.1550, which coincides with the 200-DMA, is a crucial support. Failure to defend this zone could denote the risk of a deeper decline.”
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