EUR/USD: The trend stays lower for key support at 1.1495 – Credit Suisse

EUR/USD has already removed support from the September and November 2020 lows at 1.1612/04. Economists at Credit Suisse  maintain a bearish view for 1.1495 next.

See – EUR/USD: Close below 1.1574 to open up the path towards 1.1500 – OCBC

Resistance moves to 1.1695/1.1711

“We stay bearish for our first core objective at 1.1495/93 – the key March 2020 high and the 50% retracement of the rally from the 2020 low. We would expect this to prove a good interim floor.”

“Our bias would be to view strength from 1.1495/93 as temporary and we look for a move below here in due course with support then seen next at 1.1370, then the 61.8% retracement of the rally from the 2020 low at 1.1290.” 

“Immediate resistance moves to 1.1663, with 1.1695/1.1711 now ideally capping to keep the immediate risk lower. Only above 1.1756 though would warn of a ‘false’ break.”