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- EUR/USD: Scope for a deeper recovery to 1.0198/1.0201, potentially 1.0350/90 – Credit Suisse
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.”
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