The EUR/USD corrective pullback is now over. The Credit Suisse economists now expect a retest of the 1.0736/88 zone and a break above it to reach 1.0900/44 later on..
Support at 1.0630 holds
“Most likely, the corrective pullback is now over and we expect it to retest the key resistance at 1.0736/88, the recent high, the May-June 2022 highs and the 61.8% retracement of the 2022 dip. While a further pullback from here should be allowed, we continue to look for an eventual clear break for a test of 1.0900/44 – the 50% retracement of the entire 2021/2022 dip.”
“Support at 1.0636/30 ideally holds to keep immediate risk to the upside. A break may see a deeper pullback to 1.0580, and potentially 1.0546.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
