Credit score Suisse on the technical outlook for the euro
Credit score Suisse discusses EUR/USD technical outlook and adopts a impartial bias with a bearish tilt within the near-term.
“Above 1.1864 is required to clear the best way for a transfer again to 1.1913/30,
above which ought to see a transfer again to 1.2011 and ultimately our
1.2145/55 first main upside goal – the “neckline” to the early
2018 high and the 78.6% retracement of the complete 2018/2020 fall. Under
1.1799 ideally nonetheless holds to maintain the quick danger greater. A break
can rekindle ideas of a high, though solely under 1.1754 would see
this confirmed, with assist then seen subsequent and initially at 1.1699/89,
then the 55 -day common at 1.1658,” CS notes.
“We stay of the view that 1.1930 must be cleared to substantiate the correction is over for a resumption of the uptrend and the next retreat late yesterday raises the prospect of additional sideways ranging and certainly, the specter of a high nonetheless stays,” CS provides.
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