EUR/USD: Looking for a top at 1.0944/48 and a corrective sell-off – Credit Suisse EURUSD Banks
has failed at the key technical level of 1.0944/48 and holds short-term momentum divergence, which points to the potential for a short-term sell-off, economists at Credit Suisse report.“We continue to look for a top at 1.0944/48 for now and for a deeper setback over the next week or so, especially with short-term momentum turning lower on the back of a bearish divergence, with first support at 1.0767/36.
“Bigger picture, our bias recently shifted and we now look for an eventual break above 1.0944, post a pullback, with next resistance at 1.1185, potentially the 61.8% retracement at 1.1275.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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