EUR/USD: Scope for a deeper recovery to 1.0198/1.0201, potentially 1.0350/90 – Credit Suisse
|Weekly momentum for EUR/USD is starting to turn higher. Thus, analysts at Credit Suisse expect the pair to test the 1.0198/1.0201 resistance zone, potentially 1.0350/90.
Move below 0.9704 needed to reassert the core downtrend
“We see scope for a deeper recovery to 1.0198/1.0201, potentially 1.0350/90, but with this latter area expected to prove a major cap.”
“Below 0.9704 is needed to reassert the core downtrend for a fall back to support at 0.9592/37, with support then seen next at 0.9331/03.”
“Weekly MACD momentum has crossed higher to add weight to our view of lengthier consolidation and probably a deeper recovery.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.