Lloyds Bank thinks EUR/USD will climb to 1.23.

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Lloyds Bank is bullish on EUR/USD pair, mentioning that it is possible the pair will hit the 1.23 areas.

“Aligned with general USD weakness, the EUR has now cleared important technical resistance in the 1.14-1.1465 region. This is a major break, as previously any moves to the 1.14 region have been quickly thwarted. As we have noted in our medium term comments, a break of the 1.1465 region would risk not only a move to the 1.17 region – tested on the back of the Chinese devaluation in August 2015 – but potentially a move towards 1.20-1.23. The key resistance levels to watch are 1.17-1.1810 followed by 1.1925/1.20 then 1.2300” written in the report.

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