EUR perspective remains poor – BBH

Analysts at BBH have assessed the recent performance of the single currency.

Key Quotes

“Since the break of $1.12, we have been looking for $1.1070. It corresponds with a retracement objective and where a trend line drawn off last December's and mid-March lows intersect at the end of next week. It is also just below the 200-day moving average, just above $1.11, that held before the weekend”.

“The euro is pulling back after moving briefly above $1.16 at the start of the month. We are watching closely for a technical signal of an upside correction that we anticipate before the $1.10 area yields. If we are wrong, a break of $1.0940 points to a return to $1.08. On the upside, initial resistance is seen in the $1.1200-$1.1250 band”.