The EURUSD has risen. The economists of Credit Suisse expect further strength until resistance at 1.0350/90, which is capped in principle, although next resistance is at 1.0440.
Support at 1.0097/95 will keep immediate risk to the upside
“With the weekly MACD momentum having already crossed higher a while ago, we remain bullish to test the key May/Aug price pivot and trend resistance at 1.0350/95. above at 1.0440 we would look for a major barrier here should the force extend directly we think this would clear the way for a test of resistance at the 38.2% retracement of the entire 2021 to 2022 drop in 1.0612/15.
“Support is seen at 1.0197 initially, then 1.0034 with 1.0097/95 now ideally holding to keep immediate risk higher. Below can be seen a retracement to the 13-day EMA, now at 1.0014, with new buyers expected here .”
Source: Fx Street
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