EUR: Technical indicators do not rule out additional near-term gains - BBH

Research Team at BBH, notes that the euro has bounced 2.75 cents since testing $1.0850 October 25 and has risen in the last four sessions and seven of the last nine. 

Key Quotes

“The technical indicators we look at do not rule out additional near-term gains.   It has stalled in front of a band of resistance found between $1.1130 and $1.1150.  Above there is the $1.12 congestion area that also corresponds to a downtrend line from the August and September highs.   A break of $1.1040 is notable, but it may take a violation of the $1.0980-$1.1000 area to boost confidence that near-term high is in place.  On a knee-jerk response to a Trump victory, we suspect the euro could initially rally into the $1.14-$1.15 area.”