The EUR/USD currency pair is set to remain within a broader range, according to analysts at Credit Suisse. The near-term risk is seen to be lower for a deeper corrective setback to the next support at the 38.2% retracement of the 2022/2023 rally and early January YTD low at 1.0483/63. This is expected to act as the bottom end of a broad ~1.05-1.10 range for now.
If the currency pair breaks below 1.0463, it could warn of a potentially more significant downturn. This could be confirmed if the 200-DMA at 1.0331 is removed. On the other hand, a break above 1.0806 would clear the way for strength back to test the 50% retracement of the 2021/2022 fall at 1.0944.
For the EUR/USD currency pair to move back to the 1.1035 current YTD high and eventually tougher resistance at 1.1185/1.1275, an eventual weekly close above 1.0944 is needed.
Analysts at Credit Suisse believe that the EUR/USD currency pair will remain within a broader range, as the near-term risk of a deeper corrective setback is seen to be lower. This is because the support at the 38.2% retracement of the 2022/2023 rally and early January YTD low at 1.0483/63 is expected to act as the bottom end of a broad ~1.05-1.10 range for now.
In order for the currency pair to break below 1.0463, the 200-DMA at 1.0331 must be removed. This could potentially signal a more significant downturn. On the other hand, a break above 1.0806 would open the way for strength back to test the 50% retracement of the 2021/2022 fall at 1.0944.
For the EUR/USD currency pair to move back to the 1.1035 current YTD high and eventually tougher resistance at 1.1185/1.1275, an eventual weekly close above 1.0944 is needed. This could potentially signal a more significant upturn.
Analysts at Credit Suisse are confident that the EUR/USD currency pair will remain within a broader range, as long as the support at the 38.2% retracement of the 2022/2023 rally and early January YTD low at 1.0483/63 is maintained. This is expected to act as the bottom end of a broad ~1.05-1.10 range for now.
In order to break below 1.0463, the 200-DMA at 1.0331 must be removed. This could potentially signal a more significant downturn. On the other hand, a break above 1.0806 would open the way for strength back to test the 50% retracement of the 2021/2022 fall at 1.0944.
For the EUR/USD currency pair to move back to the 1.1035 current YTD high and eventually tougher resistance at 1.1185/1.1275, an eventual weekly close above 1.0944 is needed. This could potentially signal a more significant upturn.
Analysts at Credit Suisse have highlighted that the EUR/USD currency pair is set to remain within a broader range, as long as the support at the 38.2% retracement of the 2022/2023 rally and early January YTD low at 1.0483/63 is maintained. This is expected to act as the bottom end of a broad ~1.05-1.10 range for now.
In order to break below 1.0463, the 200-DMA at 1.0331 must be removed. This could potentially signal a more significant downturn. On the other hand, a break above 1.0806 would open the way for strength back to test the 50% retracement of the 2021/2022 fall at 1.0944.
For the EUR/USD currency pair to move back to the 1.1035 current YTD high and eventually tougher resistance at 1.1185/1.1275, an eventual weekly close above 1.0944 is needed. This could potentially signal a more significant upturn.
Analysts at Credit Suisse have pointed out that if the currency pair breaks below 1.0463, it could warn of a potentially more significant downturn. This could be confirmed if the 200-DMA at 1.0331 is removed. On the other hand, a break above 1.0806 would clear the way for strength back to test the 50% retracement of the 2021/2022 fall at 1.0944.
For the EUR/USD currency pair to move back to the 1.1035 current YTD high and eventually tougher resistance at 1.1185/1.1275, an eventual weekly close above 1.0944 is needed. This could potentially signal a more significant upturn.
Overall, analysts at Credit Suisse believe that the EUR/USD currency pair is set to remain within a broader range, as long as the support at the 38.2% retracement of the 2022/2023 rally and early January YTD low at 1.0483/63 is maintained. If the currency pair breaks below 1.0463, it could warn of a potentially more significant downturn. On the other hand, a break above 1.0806 would open the way for strength back to test the 50% retracement of the 2021/2022 fall at 1.0944. For the EUR/USD currency pair to move back to the 1.1035 current YTD high and eventually tougher resistance at 1.1185/1.1275, an eventual weekly close above 1.0944 is needed.
