EUR/USD: the euro may soon find solid support in the 1.0576/57 zone (Credit Suisse)

Credit Suisse expects a test of support at 1.0576/57 on the EUR/USD in the short term:

"The EUR/USD remains under pressure with the immediate focus on support for the 61.8% retracement of the March rally at 1.0624. An extension below can go towards support formed by the mid-March bottom at 1.0600. Given the potential upward trend line of December 2016 and the 61.8% retracement of the December 2016/March 2017 climb to 1.0576/57, we expect to find support in this area.

The resistance level is shifting to 1.0680/81 first, with a breakout of 1.0702 needed to mitigate downside risks for a recovery to 1.0753. An extension above 1.0773 is required to target 1.0827 with a more severe resistance level observed at the 200-day moving average at 1.0869/73."