EUR/USD to head lower towards 0.9331/03 support after consolidation phase – Credit Suisse

EUR/USD is expected to see a short-term consolidation, ahead of a fresh push lower later in the year towards Credit Suisse’s core objective at 0.9331/03. 

Scope for lengthier consolidation

“EUR/USD is seeing consolidation and we continue to look for this to extend for a while yet for a potential retest of 55-day average and price resistance at 0.9950/1.000 which we look to ideally cap again. A closing break higher though would warn of a deeper recovery to 1.0198, potentially 1.0350/69.”

“Post a consolidation phase though we look for an eventual sustained move below 0.9592 with support then seen next at 0.9331/03.”