EUR/USD has broken to new 2022 lows. Despite the stalling on Tuesday at the 78.6% retracement support at 0.99, analysts at Credit Suisse continue to look for an eventual break for a move to their 0.9609/0.9592 next objective.

EUR/USD may again hold 0.99 for now

“Whilst we may see the 78.6% retracement of the 2000/2008 uptrend at 0.99 hold near-term, we continue to look for an eventual break for a move to our 0.9609/0.9592 next objective.”

“Resistance is seen moving to 1.0097 initially, with the 55-day average at 1.0285 now ideally capping further strength if seen.”