EUR/USD continues to rise slowly moving away from the area of support 1.1240, the movement is supported by the weakness of the US currency.Lloyds Bank has a bearish outlook and they believe that this growth is only a correction of the sharp drop from the key resistance at 1.1465. Currently the pair is in the middle of the resistance in 1.1325 - 1.1375 and a break below 1.1240 will open the way for test of 1.0950 and 1.0800.
In the medium term the pair will probably remain in the corridor 1.0450 - 1.1465.
Break above the upper limit is not the main scenario of the bank, but if it happens, the pair will have every chance to test the August maximum over 1.1700 but also to reach 1.2000 to 1.2300 and to form new trade limits.
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