EUR/USD: Resistance at 1.0859 ideally caps with support seen at 1.0762 – Credit Suisse

Analysts at Credit Suisse stay bearish on the EUR/USD for the potential uptrend at 1.0762 and eventually a move below the 1.0727 April low.

Key quotes

“Whilst a fresh bounce from this 1.0762/27 zone is likely, we continue to look for an eventual clear break in due course to confirm a more impulsive move lower is indeed underway again, with the next meaningful support seen at the 1.0635 low of March.”

“Resistance is seen at 1.0827 initially, then the 13-day average and price resistance at 1.0859, which we look to now ideally cap.”