EUR: Important support is seen near $1.20 – BBH

The euro approached last year's high, and even with the disappointing headline US jobs report, the euro's advance stalled, points out Marc Chandler, Global Head of Currency Strategy at BBH. 

Key Quotes

“Important support is seen near $1.20, and a break would signal a move toward $1.1955 initially.  The RSI did not validate last week's high, while the Slow Stochastic appears poised to turn lower early next week.  The MACDs look to take a bit longer to cross over.  On the upside, the $1.2165 area corresponds to a 50% retracement of the drop from the 2014 high.  The 61.8% retracement is near $1.26.”