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EUR/USD needs to hold support at 1.2109 to maintain an upward bias – Credit Suisse

FXStreet reports that economists at Credit Suisse discuss EUR/USD prospects.

“With the market still above its rising 13-day exponential average and more importantly its 1.2109 recent low our bias is to still stay higher for now whilst above here.” 

“Below 1.2109 would see the basing effort curtailed for now to warn of further weakness to 1.2063/61, then what we would look to be better support at 1.2035/19, with a fresh floor looked for here.” 

“Resistance moves to 1.2184/85 initially, above which is needed to add weight to this view for strength back to 1.2208.”

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