EUR/USD to see further gains towards the 1.0612/15 area – Credit Suisse EURUSD Banks
trades below the 200-Day Moving Average. Still, economists at Credit Suisse expect the pair to extend its recovery to the 38.2% retracement of the 2021-2022 fall at 1.0612.“EUR/USD is undergoing a concerted attempt to remove resistance from its key 200DMA, currently at 1.0380 but we continue to look for a sustained closing break in due course and for further strength to the 38.2% retracement of the entire 2021-2022 downtrend and late June high at 1.
“Below 1.0223 is needed to mark a minor top to ease the immediate upside bias for a fall back to support at 1.0097/95.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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