FxWirePro: EUR/USD runs out of steam as bullish signals weaken
The EUR /USD pair dipped slightly on Wednesday as the dollar regained some ground, but tensions over North Korea and upcoming French and UK elections limited investor demand for the greenback. Investors remained nervous …
The EUR /USD pair dipped slightly on Wednesday as the dollar regained some ground, but tensions over North Korea and upcoming French and UK elections limited investor demand for the greenback.
Investors remained nervous ahead of the first round of the presidential election on Sunday. A closely-watched poll showed the first round of voting was too close to call, although centrist Emmanuel Macron remained favourite to win overall.
Further upside for this pair is expected to be limited as uncertainty ahead of French presidential election is set to weigh on the currency pair.
To the upside, the immediate resistance can be seen at 1.0660, a break above this level would expose the pair to next resistance level at 1.0726.
To the downside, immediate support can be seen at 1.0619, a break below at this level will open the door towards next level at 1.0580.
