EUR continues to be resilient - BBH

In view of analysts at BBH, the euro continues to be resilient as it did not fall to new lows for the week after the US jobs data and held above $1.24. 

Key Quotes

“Nevertheless, the upside momentum has stalled, and interest rate differential is such that it costs to be long the euro if it is going to move sideways, if not lower.  Important support is not so much at $1.24 as last week's lows near $1.2335, and a break of it, and ideally $1.2300 would suggest a correction rather than consolidation.  The Slow Stochastics are rolling over and the MACDs may cross in the coming days.  The RSI has turned down and is at two-week lows.”