EURUSD: 1.05 region providing decent support – Lloyds Bank

Sandeep Kanihama FXStreet Contributor

Research Team at Lloyds Bank suggests that the 1.05 region is again seemingly providing decent support to the EURUSD pair ahead of the 1.0450 lows set back in March 2015.

Key Quotes

“We see the medium-term range over this support as corrective ahead of a breakdown towards 1.0250 and potentially key long-term support in the 1.01-0.99 region.”

“However, while over 1.05-1.0450 our intra-day studies are suggesting another bounce and consolidation can be seen as we head into the FOMC meeting on Wednesday. Resistance in this regard lies at 1.0655/75, with more important resistance siting above at 1.0755 and then the 1.0875 reaction highs from last week.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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