EUR/USD: Below 1.1100/1.1080 look for a test of 1.0910 - Lloyds  Bank

Analysts from Lloyds Bank continue to see the 1.1150 - 1.1175 region in the EUR/USD  pair as a top of a near-term range and warn that a break below 1.1100 - 1.1080 would open the doors for a test of 1.0910.

Key Quotes:

“We still view the 1.1150-75 region as the top of a near-term range. As such we still look for renewed weakness from this area but would question this on a move through 1.1225/35, as that would risk a return to the most recent reaction highs around 1.1420.”

“Pivot support lies in the 1.1100-1.1080 region. A break here should see a re-test of the key technical support around 1.0910. A subsequent break opening 1.0825-1.0750.”

“Longer-term we are becoming wary that 1.0450-1.17 range is looking like a classic “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.”