EUR/USD: Parity/0.99 to temporarily hold – Credit Suisse

EUR/USD has fallen to parity/0.99. Analysts at Credit Suisse look for a break below here post a consolidation pause which would open up support next at 0.9609/9592.

Resistance for recovery is seen at 1.0185/92

“We continue to look for 0.99 to hold for now and for a consolidation phase to emerge over the next few weeks.” 

“Resistance for recovery is seen at 1.0185/92 initially with tougher resistance seen starting at 1.0341/50.”

“Post a consolidation phase our bias though remains for an eventual break of 0.99 for a resumption of the core downtrend to the next major support at 0.9609/0.9592.”