EUR/USD: Key support remains at 1.0910 - Lloyds  Bank

In the opinion of analysts from Lloyds Bank, the key support in the EUR/USD  remains at 1.0910 and they see a key resistance at 1.1420.

Key Quotes:

“The market has opened for the 3rd day around the 1.1050 region, keeping us in a holding pattern. Key support remains around 1.0910 (equality and Fibonacci support), with key resistance at 1.1420. Intra-day studies are a little mixed, but slightly biased to the topside, so a move towards interim resistance at 1.1160/75 is possible. A break there is needed to suggest a stronger move. While under, we look for that region to hold for a move back in the current range.”

“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.”