Strategists at Credit Suisse look for a break above the 200-day average and key highs at 0.9796/9803 to reinforce the bull ‘triangle’ pattern.
Key quotes
“We look for another attempt to tackle the 200-day average and key highs at 0.9796/9803. Although this may continue to prove a tough barrier, we stay biased towards an eventual break higher, to see strength extend to the more important resistance zone at 0.9875/0.9926, which includes 2020 high and downtrend from 2019.”
“Support moves to 0.9748, then 0.9713/06, which should floor the market to keep the risks higher.”
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