EUR/USD: euro remains oriented on a decline below 1.1975 (Lloyds Bank)

Lloyds Bank believes that the EUR/USD will remain on the decline on the forex as long as it moves below 1.1975.

"A return of the EUR/USD above 1.1815/20 would suggest a new test of the 1.1900/1.1975 level, but as long as we remain below this area, we consider 1.1975 to be a peak within a medium-term range.

A break below 1.1710 would further support this idea and initiate a move to the next support area at 1.1640, with 1.15-1.14 as the range's key support levels."