Lloyds on EUR/USD - outlook, support, resistance

Technical Analysis

Author: Eamonn Sheridan | eurusd

A quick chart and a few words via Lloyds morning note (Tuesday) re the euro

  • Drove higher into year-end, briefly spiking above 1.1980/1.2010 resistance
  • Short-term momentum is in overbought territory, suggesting scope for a further extension could be limited.
  • Key medium term resistance remains in the 1.21-1.23 region.
  • We see ongoing range trading as most likely for the time being, with a decline back through 1.1910-1.1880 adding conviction to that view.
  • The lower bound of the medium-term range is currently in the 1.15-1.14 support region