EUR/USD: Bias remains towards a new low below 1.1115 – Lloyds Bank

Dhwani Mehta FXStreet

In the view of the analysts at Lloyds Bank, the recent bounce in the EUR/USD pair remains corrective in nature and the overall bias still remains to the downside.

Key Quotes:

“Rebounds remain corrective in nature.

Holding under 1.1190 resistance.

The bias remains for the market to set a new low below 1.1115.

Current "falling wedge" … since last September.

New lows have been followed by a decent rebound.

Overall, while prices are within our long-term 1.1200-1.0800 basing region, we still have little evidence of a base developing.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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