fbpx

EUR/USD set to test the 1.0635 low of 2017 – Credit Suisse

EUR/USD is breaking its uptrend from early 2017 and stays seen on course to test the 1.0635 low of 2020, analysts at Credit Suisse report.

Resistance at 1.0944/54 caps to keep the immediate risk lower

“EUR/USD is undergoing a concerted attempt to remove its prior cycle low and long-term uptrend from early 2017 at 1.0830/06. We maintain our broader bearish stance and look for a sustained break to expose the 2020 low at 1.0635 and probably we now think lower.”

“Resistance at 1.0944/54 ideally caps to keep the immediate risk lower. Only above 1.1185 though would warn of a near-term base and broader easing of downside pressure.”

 

Source link

Leave a Reply

Your email address will not be published.

^N225 
$26,173.98  $397.89  1.50%  
SGHIF 
$1.18  $0.0000  0.00%  
^HSIL 
$33.18  $3.69  12.51%  
SZNTF 
$0.2006  $0.0000  0.00%  
KOSPI.KS 
$2,169.29  $54.57  2.45%  
AUS.NZ 
$2.96  $0.009  0.30%  
^NSEI 
₹ 16,858.60  ₹ 148.80  0.87%  
FCNBCA.FGI 
$6,990.85  $128.13  1.80%  
EURUSD=X 
$0.9753  $0.0155  1.62%  
GBPUSD=X 
$1.09  $0.0171  1.59%  
JPY=X 
$143.95  $0.84  0.58%  
^GSPC 
$3,708.66  $61.37  1.68%  
NDAQ 
$58.01  $1.05  1.84%  
^DJI 
$29,608.21  $473.22  1.62%