EUR/USD: Expected to retest the 2020 low in due course – Credit Suisse

Analysts at Credit Suisse have a bearish bias on the EUR/USD as the world's most popular currency pair remains below key averages.

Key quotes

“EUR/USD has seen a rollercoaster ride in March but remains below key averages, with key trend following indicators all pointing lower across multiple time horizons.”

“A clear break of the long-term uptrend at 1.0768 is needed to allow momentum to finally accelerate. We would then see support next at 1.0636, before the 2017 low at 1.0341.”

“Resistance at 1.1163 now ideally caps. Only above 1.1495 would set an important base, which is not our base case.”