EUR/USD is expected to see an eventual move to new lows for the year below 1.0635 to test the 2017 low at 1.0341, according to analysts at Credit Suisse.
Key quotes
“EUR/USD remains choppy near-term but we continue to look for an eventual clear break of the 1.0727 recent low with support then seen next at 1.0635, before the 2017 low at 1.0341.”
“Our bias is for a break in due course, with support next at .9900/9897 – the 78.6% retracement of the entire 2000/2008 bull trend.”
“Resistance from the 200-day average at 1.1032 ideally caps.”
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