EUR/USD set retest the 1.1035 YTD high after consolidation phase – Credit Suisse EURUSD Banks
EUR/USD is expected to see an eventual break above its downtrend from May 2021 and 50% retracement at 1.0931/44, analysts at Credit Suisse report.“Whilst we see scope for further consolidation beneath key resistance from the 50% retracement of the 2021/2022 fall and downtrend from May 2021 at 1.0931/44, we continue to look for an eventual break for a retest of the 1.1035 YTD high. Whilst this should continue to be respected, we see no reason not to look for an eventual break for a test of 1.
“Support at 1.0750/14 now ideally holds. A break would warn of a fall back to the uptrend from last September, currently at 1.0590.”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.
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