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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