EUR/USD has extended its recovery further than expected after holding the 38.2% retracement of the 2020/2021 uptrend at 1.1695, clearing with relative ease resistance at 1.1990/97. Going forward though, the base case for economists at Credit Suisse is now that the pair will trade in a broad range below resistance at 1.2100/30. EUR/USD strength has extended further than expected “We look for strength to extend to 1.2103/13, but with the potential downtrend from the beginning of the year just above at 1.2130, we would look for a fresh cap here to define the top of a range. Above 1.2130 though would suggest strength can extend back to test the February high at 1.2243.” “Below 1.1942 is now needed to mark a nearterm top to reinforce a sideways range for a fall back to 1.1860 initially, with more important support seen at 1.1715/1.1695.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR: No Firework From ECB, No EUR Impact; Wait For The June Meeting – BofA Kenny Fisher 2 years EUR/USD has extended its recovery further than expected after holding the 38.2% retracement of the 2020/2021 uptrend at 1.1695, clearing with relative ease resistance at 1.1990/97. Going forward though, the base case for economists at Credit Suisse is now that the pair will trade in a broad range below resistance at 1.2100/30. EUR/USD strength has extended further than expected "We look for strength to extend to 1.2103/13, but with the potential downtrend from the beginning of the year just above at 1.2130, we would look for a fresh cap here to define the top of a range. Above 1.2130… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
