Credit Suisse on what is ahead for the euro:
- 1.1369/71 was key resistance, it was the 38.2% retracement of the entire 2018/2020 fall
- high for the year at 1.1495
- Whilst we expect the 1.1495 level to remain a formidable barrier, a break higher at any stage would be seen completing a significant medium-term base to mark a more sustained trend higher which could eventually see the market test its early 2018 point-of-breakdown at 1.2155
To the downside now:
- Support moves to 1.1324 initially, with 1.1295/91 now ideally holding
- Beneath can see a retest of price support at 1.1258/54, but only below here would warn of an in-range top
