Lloyds Bank thinks that the rebound of EUR/USD on the Forex market should remain limited.
«The rebound from 1.1717 has left a double-dip minor on the daily chart, suggesting that a longer phase of consolidation may develop.
We continue to believe that a stronger correction from the peaks towards 1.2100 should take shape, targeting a move towards the support zone of the 1.1660-1.1500.
As such, we believe that the rebound will be limited to 1.1805/55. A break above would trigger the risk of a test of the zone of 1.20-1.21, before a further fall. «