Euro: Recording Higher Highs and Higher Lows - BBH
Research Team at BBH, suggests that after reaching a low near $1.1235 on
April 14, the euro has been gradually recovering, and for the third
session, is recording higher highs and higher lows.
Key Quotes
“It
is knocking on a band of resistance that extends from $1.1350-$1.1380.
Overcoming this area would put the single currency on course to retest
the year's high set last week near $1.1465. However, the proximity of
Thursday's ECB meeting (where Draghi has an opportunity to push against
the euro's appreciation) may deter the establishment of new euro longs.”
