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.”