Credit Suisse discusses its tactical bias on the EUR in the near-term.

"In terms of our views, we have strived to eschew a medium-term directional USD stance in Q1, as we anticipated tactical weakness early on followed by renewed strength later in the quarter. So far, we do not see a strong reason to change views: the broad and synchronous nature of the repricing in monetary policy expectations continues to provide a strong argument against anticipating a repeat of last year’s trending environment," CS notes. 

"Our focus remains firmly on specific expressions, with a strong attention to trade location: we continue to look to buy EURUSD below 1.0600, with a 1.0950 target and a 1.0500 stop loss, we like to sell EURGBP rallies above 0.8900 targeting 0.8700," CS adds.