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Mar 25 - 10:55 AM

EUR/USD: Staying Tactically Bearish For 1.1695 N-Term - Credit Suisse

By eFXdata  —  Mar 25 - 09:30 AM

Credit Suisse discusses EUR/USD technical outlook and maintains a tactical bearish bias in the near-term.

"We look for a close below here to reinforce our broader roadmap for further weakness to 1.1745 and eventually a fall to the 38.2% retracement of the entire 2020/2021 uptrend at 1.1695. Although our bias remains to look for a floor here at first, we remain of the view we may be close to the completion of an important top for the EUR itself on a broad basis," CS notes. 

"Resistance moves to 1.1873/77 initially, then 1.1896, with the recent reaction high and 13 -day exponential average at 1.1933/48 now ideally capping," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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