EUR/USD: Scope for a deeper setback to 1.0120 – Credit Suisse

FXStreet Insights Team FXStreet

EUR/USD remains capped as expected below the 200-Day Moving Average on a closing basis, currently seen at 1.0409. Analysts at Credit Suisse see scope for a deeper setback to the 38.2% retracement of the rally from September at 1.0120.

Resistance at 1.0409 is expected to cap for now

“EUR/USD remains capped as expected by key resistance from its falling long-term 200DMA, currently seen at 1.0409, and with a minor top now seen in place, we continue to see scope for a deeper setback from here.”

“Support is seen next at the rising 13DMA at 1.0211, a close below which would be seen to clear the way for a test of the October/November reaction highs at 1.0197/95. We continue to look for a floor here. Should weakness directly extend, this would raise the prospect of further weakness, with support then seen next at the 38.2% retracement of the September/November rally at 1.0120.”

“Resistance is seen at 1.0334 initially, with a close above the 200DMA at 1.0409 needed to clear the way for further strength back to the 1.0481 high and eventually the 38.2% retracement of the entire 2021-2022 fall at 1.0612/15.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD slumps below 1.1800 on hawkish Fed Minutes, eyes on ECB succession

The EUR/USD pair tumbles to a near two-week low around 1.1785 during the early Asian session on Thursday. The US Dollar strengthens against the Euro on hawkish FOMC minutes that revived speculation about potential interest rate hikes if inflation remains elevated.

GBP/USD extends decline as weak jobs data bolsters BoE rate cut bets

The Pound Sterling continued to backslide under sustained pressure on Wednesday, following through after the UK employment report on Tuesday showed a labour market deteriorating faster than expected.

Gold yearns for acceptance above the $5,000 mark

Gold preserves 2% advance seen on Wednesday as buyers gather pace early Thursday. The US Dollar holds January Fed Minutes-led gains ahead of more US macro data. Gold needs a sustained break above the key $5,000 barrier; daily RSI stays bullish.

Bitcoin approaches a critical zone: Bear pennant projects $56,000

Based on the most recent analyses from February 2026, the short answer is that it is highly unlikely that Bitcoin will reach $100,000 this month.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.