EUR USD Under the influence of Trump victory
11/10/2016 8:53:50 AM
At the moment, repeated softer tone around the greenback is allowing EUR/USD to try recoil to the area of daily highs in the mid-1.0900.
After an unstable session on Wednesday following the victory of Donald Trump in the US elections, spot went from testing multi-week tops in the limitations of 1.1300 the figure early in Europe to drop to 2-week lows in the area of the key support at the 1.0900 handle.
As market participants in Asia keep on to adjust to Trump’s victory and yesterday’s ‘friendly’ reaction in the European and US markets, some profit taking sentiment is warning the greenback to go back some ground, helping spot to regain the positive territory and advance towards the 1.0950 area.
The pair is now progressing 0.27% at 1.0939 and a breakout of 1.1300 would target 1.1366 en route to 1.1435. On the downside, the immediate support line up at 1.0903 followed by 1.0850 and ultimately 1.0820.