EUR/USD: Lloyds bank still expects the euro to decline on the forex

Lloyds Bank still expects a further decline of the EUR/USD in the near term.

"The EUR/USD remains in a corrective phase since the peak at 1.2090 recorded in September. We see the current short-term evolution as a consolidation within this bearish process, pointing to a test of the 1.15-1.14 area.

This movement should complete the phase since 1.2090 before a return to an average around 1.19, followed by a wide range in the medium term.

A return above 1.1725/35 would suggest that we are already in the formation of this range."