EUR/USD: Volatile and vulnerable – OCBC

FXStreet Insights Team FXStreet

The Euro (EUR) partially retraced earlier gains amidst US election volatility. Pair was last seen at 1.0898 levels, OCBC’ FX analysts Frances Cheung and Christopher Wong notes.

2-way risks amid the US elections

“Momentum is mild bullish while the rise in RSI moderated. Resistance here at 1.09 (50% fibo), 1.0940 (100 DMA), 1.0970. Support at 1.0830 (61.8% fibo retracement of 2024 low to high), 1.0760 (recent low).”

“Risks are 2-way from here dependent on outcome of US election results (which should start coming in on Wednesday).”

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FXStreet Insights Team

FXStreet

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