EUR/USD: the pair should be bought as long as it remains above this level (Credit Suisse)

Credit Suisse remains bullish on the EUR/USD on the forex and expects to buy as long as it stays above 1.1613.

"The EUR/USD did not extend its rise above 1.1712/36. The 1.1613 support level must hold to keep the immediate risks on the rise. On the upside, there are resistance levels at 1.1777/83. A break above this area should suffice to confirm a major floor and pave the way towards 1.1876. We should then find sellers here, before resuming the rise towards 1.2000/42 and then 1.2167.

In the short term, the first support level is at 1.1650. A break under 1.1613 would establish a top with a fall towards 1.1584/78, before stronger thresholds located near 1.1497/79."