FxWirePro: EUR/USD gains some upside momentum but still bearish
The EUR/USD rose higher at the beginning of the US session on Wednesday as the single currency gained from investors wariness over Trump's protectionism and immigration policy and his hints that he would prefer a weaker …
The EUR/USD rose higher at the beginning of the US session on Wednesday as the single currency gained from investors wariness over Trump's protectionism and immigration policy and his hints that he would prefer a weaker dollar.
France's presidential race sank deeper into the mire of scandal after centrist Emmanuel Macron was forced to deny an extramarital affair and conservative Francois Fillon pressed on with efforts to salvage his reputation.
However,further upside in this pair is expected to be limited as uncertainty about French presidential election is set to weigh on euro.
To the upside, the strong resistance can be seen at 1.0782, a break above this level would take the pair towards next resistance level at 1.0830.
To the downside immediate support can be seen at 1.0694 levels, a break below this level will open the door towards next level at 1.0640.
