22 Dec 2014
Credit Suisse: EUR/USD focus remains on lows around 1.2230 – eFXnews
FXStreet (Barcelona) - The eFXnews team notes Credit Suisse sees the EUR/USD focus to stay on the medium-term lows around 1.2230, anticipating a break below it to drive the pair lower to 1.2042 levels.
Key Quotes
“The spotlight stays on the medium-term range lows around 1.2230. While we would again expect buying to show here, a break below would then allow further weakness to the 1.2042 low of 2012. Below this latter level would complete a much more important top to then target the June 2010 low at 1.1876, next.”
“Resistance moves to 1.2353 initially, then 1.2362/69, but with a break through 1.2470/76 needed to turn the attention back to 1.2517, potentially 1.2533/42 again”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The spotlight stays on the medium-term range lows around 1.2230. While we would again expect buying to show here, a break below would then allow further weakness to the 1.2042 low of 2012. Below this latter level would complete a much more important top to then target the June 2010 low at 1.1876, next.”
“Resistance moves to 1.2353 initially, then 1.2362/69, but with a break through 1.2470/76 needed to turn the attention back to 1.2517, potentially 1.2533/42 again”
This content has been provided under specific arrangement with eFXnews.