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26 Jan 2015
Credit Suisse: EUR/USD bearish bias towards 1.0836/0765 – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares Credit Suisse views that the recent EUR/USD fall below 1.1212 suggests that the pair might move towards 1.0836/0765 levels.
Key Quotes
“EURUSD has fallen sharply again to leave the immediate bias bearish to our core target at 1.0836/0765.”
“EURUSD fell sharply again post Thursday’s ECB meeting, easily removing the recent cycle low at 1.1460, the 1.1381 level, and directly removing the 61.8% retracement of the entire 2000/08 rise at 1.1212.”
“We allow for a bounce here, however, our core target remains lower at 1.0836/0765.”
“An overshoot to multi-year trend support at 1.0588 should be allowed for, but we would expect this to hold at first. Bigger picture though, we see scope for parity.”
“Resistance shows at 1.1455/60 initially then 1.1498/1500, with 1.1540/41 expected to cap to keep the trend directly lower. Above 1.1679/84 is needed to ease downside risks.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“EURUSD has fallen sharply again to leave the immediate bias bearish to our core target at 1.0836/0765.”
“EURUSD fell sharply again post Thursday’s ECB meeting, easily removing the recent cycle low at 1.1460, the 1.1381 level, and directly removing the 61.8% retracement of the entire 2000/08 rise at 1.1212.”
“We allow for a bounce here, however, our core target remains lower at 1.0836/0765.”
“An overshoot to multi-year trend support at 1.0588 should be allowed for, but we would expect this to hold at first. Bigger picture though, we see scope for parity.”
“Resistance shows at 1.1455/60 initially then 1.1498/1500, with 1.1540/41 expected to cap to keep the trend directly lower. Above 1.1679/84 is needed to ease downside risks.”
This content has been provided under specific arrangement with eFXnews.