EUR/USD breaks short-term channel – Société Générale

EUR/USD is regaining upside traction after defending its 50-DMA and breaking above a short-term channel, with momentum indicators supporting a test of key resistance levels, Société Générale's FX analysts note.

Euro regains upward momentum

"EUR/USD defended the 50-DMA near 1.1065 (now at 1.1300) and broke out from a short-term channel denoting regaining upward momentum. This is also highlighted by the daily MACD, which remains anchored within positive territory and has crossed above trigger line."

"The pair is approaching April high of 1.1570/1.1610. Defence of recent pivot low at 1.1370 will be crucial for persistence in up move. If the pair establishes beyond 1.1570/1.1610, the up move may extend towards projections of 1.1780 and 1.1885."

Jun 12, 2025

USD/CNH has likely moved into a 7.1620/7.2200 range – UOB Group

US Dollar (USD) could edge higher, but any advance is likely limited to a test of 7.2070. In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

A sobering ECB report on the role of the EUR – Commerzbank

Some ECB officials, including the President herself, have recently made no secret of their ambitions to establish the euro as the world's new reserve currency, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.