EUR/USD: the euro could seek to reach the 1.21 zone on the forex (Lloyds Bank)

Lloyds Bank believes that the EUR/USD could go as high as 1.21 on the forex.

"The EUR/USD climbed above the 1.1850/1.1870 resistance zone and achieved a strong weekly close.

Our bias remains in favour of a move to the previous peaks at 1.2100, with potential for a new marginal high. However, if this is the case, we continue to consider that the 1.21-1.23 area is a strong resistance zone in a medium-term range.

Intraday support is located at 1.1860/1.1810. A break below this is necessary to cancel the current bullish bias and lead us into a range configuration."