EUR/USD: Break of 1.0830/06 to open up losses toward 2020 low at 1.0635 and probably lower – Credit Suisse

According to economists at Credit Suisse, EUR/USD consolidation may already be over. They look for a break of key trend and price support at 1.0830/06.

EUR/USD is back under pressure

“Although further consolidation above 1.0830, the long-term uptrend from early 2017, should be allowed for we maintain our broader bearish stance and look for a sustained break of 1.0830/06 in due course to expose the 2020 low at 1.0635 and probably we now think lower.”

“Only above 1.1185 would be seen to now mark a base and an important low.”