EUR/USD: Credit Suisse now targeting 1.0525 following recent bearish turn

In an analysis published today, Credit Suisse notes that the EUR/USD's break below 1,066/52 once again shifts the trend towards a new bearish phase.

"We expect a further decline towards the 55-day MA at 1.0918 initially, followed by 1.0849/43 and 1.0660/14.

In the short term, resistances are at 1.1062, 1.1101 and then 1.1208/78.

In the end, we recommend that traders short at 1.1060 with a target at 1.0525 and a stop above 1.1248."