EUR/USD: reinforced risk of a euro rebound on the forex ahead of a bearish recovery (Lloyds Bank)

Lloyds Bank notes that EUR/USD rebound risks on the forex are strengthening ahead of a bearish recovery.

"The EUR/USD is trying to push above the resistance level at 1.1770, reinforcing the feeling that a stronger correction may develop.

1.1825/1.1865 is the next resistance area, with the more significant 1.1930/1.2000 area right above.

We continue to believe that once this correction is complete, a sharp fall towards 1.1500 should follow, within the formation of a medium-term range."