EUR: Near-term risk extending toward $1.2165 – BBH

Analysts at BBH note that the euro has approached last year's high recorded in September near $1.2090.  

Key Quotes

“We expected some follow though buying, given the momentum in the second half of December.  We see the near-term risk extending toward $1.2165, which is the 50% retracement of the euro's decline from the 2014 high near $1.40.  That said, the technical indicators are stretched.  Consider that the upper Bollinger Band is near $1.2035 today.  It has closed the North American session above the upper Bollinger Band in the last three sessions of 2017.”