EUR Failed to increase USD in Forex market
6/12/2017 1:36:11 PM
The EUR/USD pair stayed better bid, merging the recovery from weekly lows of 1.1168, as markets digest reports of Macron's sweeping parliamentary election Round 1 victory.
EURUSD’s drop from 1.1287 expanded to lower range at 1.1170. Deeper weakening is still possible and subsequent goal would be at around 1.1133. Though, if 1.1111 support keeps, the reduction would probably be merging of the upward tendency from 1.0571, another growth towards 1.1453 could be expected after the merging. Persistence is at 1.1287, a break of this level could signal continuation of the upward tendency.
FOREX market analysis by FxErvin.