Via Lloyds technical analysis comes this on the euro
In summary:
- risk of a further decline towards next important Fibonacci support in the 1.0815 region
- Intra-day resistance lies in the 1.0925-1.0965 region, with a move back through there suggesting a near-term base is in place, but we would need to see a move back through 1.1050 and then 1.115 to confirm a real reversal is in play
- Overall, we still view the 'wedge' pattern since September 2018 as an ending process, but still need evidence of a base being in place by way of a rally through 1.1110 and then 1.1300. This would open a move back towards the 1.16-1.18 range highs.
