What's next for the euro
Credit Suisse discusses EUR/USD technical outlook and maintains a neutral bias in the near-term.
"Although a lengthier phase of consolidation should still be allowed for, whilst 1.1803 holds the immediate risk can still lean higher in the range. Resistance is seen at 1.1904 initially, with a break above 1.1923 needed to ease the immediate downside bias for strength back to the recent highs at 1.1949/53. Whilst a fresh rejection from here should be allowed for, we continue to look for an eventual break in due course, with 1.2145/55 remaining our first base case resistance," CS notes.
"Support moves to 1.1803, a break below 1.1803 needed to increase the risk of a potential with support then seen next at 1.1783/78 and more importantly starting at 1.1723 and stretching down to 1.1697," CS adds.
