Credit Suisse: EUR/USD to drop substantially towards the March 2020 high at 1.1495 :
“A break below 1.1703/1.1695 would mark the completion of a large and important bearish ‘head & shoulders top’ to mark a significant change of trend lower. We would then see support initially at 1.1662 ahead of the September and November 2020 lows at 1.1612/04, which we would look to hold at first.”
“Resistance moves to 1.1770 initially, above which can see a minor base for a recovery back to the 13-day exponential average at 1.1805/10, with fresh sellers expected here.”
“A break below 1.1703/1.1695 would mark the completion of a large and important bearish ‘head & shoulders top’ to mark a significant change of trend lower. We would then see support initially at 1.1662 ahead of the September and November 2020 lows at 1.1612/04, which we would look to hold at first.”
“Resistance moves to 1.1770 initially, above which can see a minor base for a recovery back to the 13-day exponential average at 1.1805/10, with fresh sellers expected here.”
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.