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Technical Setups & Targets For EUR/USD & USD/JPY- Credit Suisse
The following are the latest technical setups for EUR/USD, and USD/JPY as provided by the technical strategy team at Credit Suisse. EURUSD has fallen sharply again to leave the immediate bias bearish to our core target at 1.0836/0765. EURUSD fell sharply again post Thursday’s ECB meeting, easily removing the recent cycle low at 1.1460, the 1.1381 level, and directly removing the 61.8% retracement of the entire 2000/08 rise at 1.1212. We allow for a bounce here, however, our core target remains lower at 1.0836/0765. An overshoot to multi-year trend support at 1.0588 should be allowed for, but we would expect this to ... (full story)
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Prachait Saxena