EUR/USD: Credit Suisse continues to bet on fall to parity, believes 1.1495 threshold will be key in short term

Today, Credit Suisse places emphasis of its analysis of the EUR/USD on the significant 1.1495 threshold:

"For now, we believe that the 1.1495 threshold will block any further rise of the EUR/USD. Above 1.1495, we could even start to bet on a return to the tops of August 2015 at 1.1714 and even 1.1808, the 38.2% retracement of the 2014-2015 drop.

We therefore continue to believe that the EUR/USD will bust out of its current range at the bottom, which will be the first signal towards our goal of parity (1.0000).

Note, however, that there is a significant risk that the drop to this area will be slow or that the EUR/USD will shows recoveries between this time."