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EUR/USD to enjoy a slight upward bias whilst above 1.1999/86 - Credit Suisse

FXStreet reports that  the Credit Suisse analyst team suggests that EUR/USD can maintain an upward bias still within the broader range above key price and retracement support at 1.1999/86. 

“Resistance stays seen at 1.2110/14 initially, with a break above 1.2152 needed to reassert an upward bias for strength back to 1.2182/85, then what we expect to be tougher resistance at the 78.6% retracement of the Q1 fall and February high at 1.2212/43, where we will look for a fresh cap. Should strength directly extend, this can expose the top of the broader range and YTD high at 1.2325/1.2350.” 

“Below 1.2052/51 can clear the way for a test of what we see as more important support at 1.1999/86 – the early May low and 38.2% retracement of the March/May rally.”

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