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EUR/USD: Sell At 21d MA; USD/JPY: Buy At Key Support - Credit Suisse
EUR/USD came within a whisker of the 1.2358 recent low on Monday, which attracted some near-term buying, notes Credit Suisse. "However, we ideally look for price and 21-day average resistance at 1.2502/08 to cap to keep the immediate trend lower," CS argues. "Removal of 1.2358 would target 1.2295/89 next, ahead of the bottom end of the medium-term range at 1.2224, where we would look for fresh buying to emerge. Should weakness directly extend, this should see a challenge on the 1.2042 pivotal low of 2012," CS projects. Near-term resistance, according to CS, moves back towards 1.2502/08 and beyond here can see a ... (full story)