EUR/USD remains in a short-term consolidation phase. Economists at Credit Suisse look for an eventual break higher post this pause.

Key near-term support seen at 1.0776/67

“EUR/USD is still stalling below key resistance at 1.0918/44 and we stay biased towards a consolidation phase below this level. However, post this pause, we believe a breakout above here is now likely, with the next resistance seen at 1.1185.”

“Support is seen at 1.0836 initially, with a break below the low of last week and 21-day exponential average at 1.0776/67 needed to mark a near-term top and more decisive rejection, with support then seen next at 1.0736/25.”