EUR: Pressuring key chart point of 1.2340 area - BBH

Sandeep Kanihama FXStreet Contributor

The euro is pressuring another key chart point as the $1.2340 area corresponds to a retracement of the bounce from $1.2200 (Feb 9) to $1.2555 before the weekend, points out the research team at BBH.

Key Quotes

“Below there, support is seen near $1.2285, nothing substantial until $1.22. A break of $1.2200 would suggest a more important high is in place for the euro and would warn of the likely push back toward $1.18 (on ideas of a double top). There is a 551 mln euro strike at $1.2365 that expires today.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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