Credit Suisse discusses EUR/USD outlook and adopts a bullish bias through Q1'21 targeting a push towards 1.2250.
"We now expect EURUSD to push on towards 1.2250, bringing forward marginally our timing for this (we had initially seen it as likely once the 10 Dec ECB meeting event risk is out of the way). We can imagine a 1.20 – 1.25 range becoming the Q1 2021 equivalent of the 1.16 – 1.20 range that mostly prevailed for 4 months between the start of Aug and end-Nov," CS notes.
"We would certainly now expect to see strong buying interest on any renewed move below 1.2000. One of the most common pushbacks to our views has been that there is consensus agreement and that these views are over-owned," CS adds.