FXStreet reports that economists at Credit Suisse look for a resumption of the downtrend in EUR/USD to the 1.1495/93 mark.
“Support moves to 1.1590 initially, then 1.1571/66, below which should clear the way for a fall back to 1.1529/24, then our 1.1495/93 first objective – the key March 2020 high and 50% retracement of the 2020/2021 bull trend.”
"Whilst we would look for the 1.1495/93 to hold at first for a fresh consolidation phase, below in due course should clear the way for a move to 1.1290.”
“Above 1.1671 would reassert an upward bias for a test of the 55-day average at 1.1706/11.”