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EUR/USD: Bullish Reversal Week; AUD/USD: Next Target - Credit Suisse
After forming a bullish reversal day last Thursday, EUR/USD ended the week forming a bullish reversal week reinforcing the case that a base is firmly in place, notes Credit Suisse. "We look for further strength towards gap and 78.6% retracement resistance spanning from 1.1230 to 1.1256/59. Above here can then target the February high at 1.1376 where we would expect fresh selling to show. Immediate support moves towards 1.1136, with the top of the base at 1.1068/58 ideally holding," CS projects. In line with this view, CS maintains a long EUR/USD from 1.1140 targeting a move to 1.1370, with a stop at 1.1058. Turning to ... (full story)
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