EUR/USD Rallies Capped Around 1.1280 – BBH
Analysts at BBH see occasional bullish attempts in EUR/USD struggling around the 1.1280 area.
“The euro traded below $1.12 for the first time since late-March but finished the week above it”.
“The lower Bollinger Band near $1.1175 lent support ahead of $1.1145, the March lows, which is just below the 100-day moving average (~$1.1155)”.
“Below there, the $1.1070 level corresponds to a 50% retracement of the euro's advance since the ECB underwhelmed investors last December”.
“The US-German two-year spread widened by 13 bp last week, the most since November. Corrective upticks should be limited by the $1.1280 area”.