Synopsis:

SocGen highlights 1.0385 as key downside support and 1.0535 as critical resistance for EUR/USD. A break above 1.0535 could extend the recent rebound, while a defense of the 1.0385 level could sustain upward momentum.

Key Technical Insights:

1️⃣ EUR/USD Has Stabilized Above the 50-DMA 📈

• The pair has rebounded after finding support at 1.0140 in February.
• Trading above the 50-day moving average (DMA) suggests a regain of upward momentum.

2️⃣ 1.0385 is a Crucial Support Level 📊

• 1.0385-1.0400 zone has been an important technical support.
• Defending this level could sustain the recent bounce and prevent a deeper retracement.

3️⃣ 1.0535 is the Immediate Upside Hurdle 🚀

• A break above 1.0535 could extend the recovery further.
• The next targets would be 1.0580 (technical projection) and 1.0630 (December high).

Conclusion:

EUR/USD remains in consolidation mode, with 1.0385 as a key support and 1.0535 as the upside breakout level. A move above 1.0535 could open the door to further gains, while failure to hold 1.0385 could trigger renewed selling pressure.