EUR/USD: Lloyds bank still favours a short-term decline of the euro

Lloyds Bank believes that a break of key support at 1.0580/1.0500 would pave the way for a test of the bottom of the medium range at 1.0350.

"We remain in a consolidation phase, which is considered a correction of the decline since 1.0900. As such, our bias is still for a new bearish attempt in the short term.

The key support is at 1.0580/1.0500. A break of this threshold would trigger a medium-term movement towards the bottom of the range in the 1.0350 area. The intraday resistance area is still at 1.0705/1.0770."