FxWirePro: EUR/USD trades cautiously ahead of macron’s prime minister announcement

• EUR/USD hovered near 2 -month low on Friday investors focused on French politics ahead of President Emanuel Macron's expected announcement of a new prime minister.

•  President Emmanuel Macron will meet with key political parties ahead of a self-imposed President Emmanuel Macron is set to appoint his sixth prime minister in under two years on Friday, seeking to resolve France’s worst political crisis in decades.

•  President Emmanuel Macron will meet with key political parties ahead of a self-imposed deadline to announce a new prime minister.

• France’s political uncertainty is shaving at least 0.2 percentage points off growth and could further weaken business and consumer confidence, said central bank chief Francois Villeroy de Galhau on Frida.

• At GMT 10:13,the euro was up 0.011% at 1.1576 against dollar .

• Immediate resistance is located at 1.1648( Oct 9th high), any close above will push the pair towards 1.1704(38.2%fib).

• Strong support is seen at 1.1555(38.2%fib) and break below could take the pair towards 1.496 (Lower BB).

  Recommendation: Good to sell around 1.1600 , with stop loss of 1.1670 and target price of 1.1520