The euro has been on the back foot, but has it gone too far? Here are opinions about EUR/USD and EUR/CHF:
Here is their view, courtesy of eFXdata:
Credit Suisse discusses its latest tactical bias on EUR/USD and USD/CHF in the near-term.
“EURUSD threatening a break of the range, however price action eminent of over-excitement at poor levels. We sense that a clean break of 1.09 is now being watched as the catalyst for fresh supply and are comfortably awaiting a move towards 1.0950/60 on the session, as opposed to chasing at current levels. Watching EURJPY through 117.45 for clues,” CS notes.
“USDCHF still capped below 1.0000, patience and ﬂexibility important, range-bound 0.9850-1.0000 with both parameters signiﬁcant now, it looks like being a roller-coaster into month-end,” CS adds.
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