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- EUR/USD: Resistance at 1.2212/1.2243 to cap euro's strength – Credit Suisse
EUR/USD: Resistance at 1.2212/1.2243 to cap euro's strength – Credit Suisse
FXStreet reports that Credit Suisse analyst team discusses EUR/USD prospects.
“We stay biased higher for a test of resistance next at the 78.6% retracement of the Q1 fall at 1.2212, with scope for the 1.2243 February high. For now, we look for strength to ideally fail here for a fresh pullback into the broader sideways range that has been in place since early January. A direct breach of the 1.2243 February high can see strength extend to test 1.2325/50 – the 2021 high and potential downtrend from 2018. Support moves to 1.2125 initially, then 1.2105/02, which we look to try and hold. Below can see a deeper setback to 1.2058/52, with better buying expected here.”
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