The EUR /USD pair declined on Monday as dollar regained some ground after being hit by a poor wages report last week and political uncertainty ahead France's presidential election weighted on Euro. Investors were largely…
The EUR /USD pair declined on Monday as dollar regained some ground after being hit by a poor wages report last week and political uncertainty ahead France's presidential election weighted on Euro.
Investors were largely focused on French politics, as far-right National Front leader Marine Le Pen launched her presidential bid, vowing to fight globalization and take France out of the euro zone.
The ongoing weakness is set to continue for this pair as the resistance level at 1.0826 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
To the upside, the immediate resistance can be seen at 1.0766, a break above this level would expose the pair to next resistance level at 1.0800.
To the downside, immediate support can be seen at 1.0706, a break below at this level will open the door towards next level at 1.0658.
