EUR/USD: We remain biased for a move lower - Lloyds
|Analysts from Lloyds Bank continue to see a downside bias in the EUR/USD pair, toward a test of 1.0910.
Key Quotes:
“Once again, EURUSD threatened the lower bound of its interim range, however, 1.0980 (now a short-term double bottom) continues to hold firm. We remain biased for a move lower - a breakdown through support at 1.0910 would confirm the sideways process of the last few weeks has been a consolidation ahead of a decline to lower support levels in the 1.08-1.0750 region.”
“A rally back through the 200dma and pivot resistance in the 1.1050/80 area would suggest we are still in the current range process. A move through 1.1190 is needed to re-expose the 1.1420/30 broader range highs.”
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