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EURUSD: Range bound but higher lows formation – Lloyds Bank
FXStreet (Delhi) – Research Team at Lloyds Bank, suggests that EURUSD remain trapped in the current ranges, although note that this year pullbacks have been developing slightly higher lows.
Key Quotes
“Support in this regard comes in at 1.0825 on the day, with a decline through there suggesting a re-test of more important support in the 1.0730/00 region. Stepping stone supports below here are then 1.0640/35 and then the 1.0525-1.0450 major range lows.
Our bias, technically, while over 1.0825 is to see range resistance at 1.0985 challenged, with a break here opening a move towards 1.1090/1.1130 key pivot resistance above. A subsequent break here should see a further extension towards 1.1270 as part of a broader medium-term range.”
