EURUSD: Not expecting a decline through the key 1.01-0.99 support – Lloyds Bank

Analysts at Lloyds Bank point out that EURUSD bulls will be disappointed by the yesterday’s price action following the break of 1.0875 technical resistance while supports are standing at 1.0740/10 and 1.0675. 

Key Quotes

“Long term, the break of last year’s 1.0450 lows is arguably the last in the cycle from the 1.6020 highs set in 2008. We are not expecting a decline through the key 1.01-0.99 support (outside of a major election upset), with the next major move expected to be back to 1.15 and eventually 1.2000-1.2350.”