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29 Dec 2014
Credit Suisse: EUR/USD may test the 1.2042 low – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares Credit Suisse’s view that the EUR/USD trend stays bearish, may test the more important 2012 low at 1.2042.
Key Quotes
“EURUSD remains on the back foot prodding to new cycle lows. This leaves the focus immediately lower on trend support from early October at 1.2166 next.”
“Beneath here looks to 1.2134, and then the 1.2042 low of 2012. Below this latter level would complete a much more important top to target the June 2010 low at 1.1876 next.”
“Resistance moves to 1.2273 initially, then 1.2302, ahead of 1.2353, which we look to try and cap. Above can see a recovery back to 1.2415/18.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“EURUSD remains on the back foot prodding to new cycle lows. This leaves the focus immediately lower on trend support from early October at 1.2166 next.”
“Beneath here looks to 1.2134, and then the 1.2042 low of 2012. Below this latter level would complete a much more important top to target the June 2010 low at 1.1876 next.”
“Resistance moves to 1.2273 initially, then 1.2302, ahead of 1.2353, which we look to try and cap. Above can see a recovery back to 1.2415/18.”
This content has been provided under specific arrangement with eFXnews.