The large bear ‘triangle’ pattern remains in place and analysts at Credit Suisse look for weakness to unfold in due course.
Key quotes
“We remain biased lower, in line with the large bear ‘triangle’ pattern that remains in place and the recently established intra-day top, with support seen initially at 0.5949/20.”
“More important support is seen thereafter at 0.5851/44, below which would complete a more meaningful top to confirm the broader downtrend is resuming, with support next at 0.5808.”
“Resistance is seen initially at 0.6076, then 0.6106/09, ahead of 0.6130/31, which ideally caps again if reached.”
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