EUR/USD: Lloyds bank remains bearish on euro in the short-term

Lloyds Bank maintains a bearish bias on the EUR/USD in the short term:

"After failing at 1.0640 on a number of occasions, the EUR/USD finally broke under this level on Friday. However, the result was disappointing, with limited support for key EUR pairs. We are surprised by the resilience of the pair, and it is interesting to note that intraday indicators are at oversold levels. Nevertheless, even if the resistance is below 1.0740/70, we maintain our bearish bias. Short positioning has narrowed, suggesting that the market tends to resell on rallies. The support levels are at 1.0600/1.0585 and then at 1.0535/25."