Euro’s One-Week High May Be ‘False Friend’: Technical Analysis 
June 14 (Bloomberg) -- The euro’s gain to a one-week high versus the dollar may be a “false friend” setting the currency up for a drop to $1.1875 if it doesn’t rally further, according to UniCredit SpA.
Its increase from a four-year low of $1.1877 reached June 7 may be a “fragile pullback” if it doesn’t break above $1.2290, a level that provides a test of the rebound’s momentum, UniCredit analysts led by Roberto Mialich in Milan wrote today in a research note.
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June 14 (Bloomberg) -- The euro’s gain to a one-week high versus the dollar may be a “false friend” setting the currency up for a drop to $1.1875 if it doesn’t rally further, according to UniCredit SpA.Its increase from a four-year low of $1.1877 reached June 7 may be a “fragile pullback” if it doesn’t break above $1.2290, a level that provides a test of the rebound’s momentum, UniCredit analysts led by Roberto Mialich in Milan wrote today in a research note.
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