EUR: Pressuring key chart point of 1.2340 area - BBH

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.”