#EURUSD @ 0.98156 to head lower towards 0.9331/03 support after consolidation phase – Credit Suisse
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EUR/USD is expected to see a short-term consolidation, ahead of a fresh push lower later in the year towards Credit Suisse’s core objective at 0.9331/03.
“EUR/USD is seeing consolidation and we continue to look for this to extend for a while yet for a potential retest of 55-day average and price resistance at 0.9950/1.000 which we look to ideally cap again. A closing break higher though would warn of a deeper recovery to 1.0198, potentially 1.0350/69.”
“Post a consolidation phase though we look for an eventual sustained move below 0.9592 with support then seen next at 0.9331/03.”
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