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Daily outlook for EUR/USD: Lloyds Bank

Quotes from Lloyds Bank:

-Lloyds economists and consensus are looking for a further recovery in the IFO release this morning, as highlighted above. If correct this should provide some upside to the EUR, but it is hard to see the EURUSD pushing out of its current range while we still have uncertainty over Greece and ahead of Fed Chair Yellen's testimony tomorrow.

-Main resistance levels are 1.1450/60 and then 1.1525/45. If we do move through the range highs then a more significant squeeze is possible, with the next significant trend resistance not coming in till the 1.1850-80 region.

-A poor IFO and/or a new European headline shock will see 1.1270/60 support re-tested, but this support has been steadfast for all of February. 1.1190 and the lows at 1.100/1.1095 are further supports below if it does give way.

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