EUR/USD: Credit Suisse remains bearish on the pair, aims for 1.0445 followed by 1.0341

Credit Suisse believes that the downturn of the EUR/USD leaves a direct downside risk for the pair in the short term:

«We remain bearish for 1.0454/45, followed by 1.0341. The EUR/USD has been falling since the resistance level at 1.0630 as expected, approaching the recent low at 1.0494. This leaves a direct bearish risk for a break below to test 1.0454/45 and possibly a return to the low of the year at 1.0341. In the long term, we maintain our goal of parity.

The resistance moves to 1.0590 initially, with a cap at 1.0630/37.

A break above this last level is needed to see a recovery returning to 1.0670/80, but with new sellers expected here."