EUR/USD: Expected to retest its 2017 low – Credit Suisse
|EUR/USD has seen a rollercoaster ride in March but remains below short-, medium- and long-term averages and the trend stays seen lower, in the opinion of analysts at Credit Suisse.
Key quotes
“A clear break of long-term trend support at 1.0765 should see support next at 1.0635, then the 2017 low at 1.0341. Although this should be respected, our bias is for a break in due course, with support next at 0.9900, the 78.6% retracement of the entire 2000/20008 bull trend.”
“Resistance at 1.1150 now ideally caps. Only above 1.1495 would set an important base.”
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