is expected to remain below the 1.2445/47 December highs for now, in the view of analysts at Credit Suisse.“We maintain our view that the 1.2245/47 December high is likely to remain a tough barrier and we thus continue to look for this to cap for now, even if the broader trend is still seen higher.”“A close below 1.2169 remains needed to ease the immediate upside bias to clear the way for a retest of support at 1.2099/89, with the 55-day average now at 1.2045.
“Resistance is seen at 1.2355, then 1.2417. An eventual break above 1.2447 should see strength extend to 1.2668/1.2758 – the May 2022 high and 61.8% retracement of the 2021/22 fall.”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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