EUR/USD: Move above 1.1190 needed to expose 1.1420/30 - Lloyds

Analysts from Lloyds Bank see the EUR/USD  pair moving in a range, on consolidation. They warn that a break below 1.0910, would expose the next support area around 1.08 - 1.0750.

Key Quotes:

 “We have shifted back to the bottom of the current 1.0910 to 1.1150-1.1190 range. A breakdown through this support would confirm the sideways process of the last few weeks has been a consolidation ahead of a move back to lower support levels in the 1.08-1.0750 region.”

“A rally back through the 200dma and pivot resistance in the 1.1060/80 region confirms 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.”

“Longer term we are becoming wary that 1.0450-1.17 range is developing as a “flag” consolidation ahead of a test of key long-term support in the 1.00-0.99 region. We are monitoring this for greater clarity and confidence in this view.”