EUR/USD heading to a formidable barrier at 1.1495

Author: Eamonn Sheridan | Category: News

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
Credit Suisse euro
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