EUR/USD: Dragged by political noises – OCBC

FXStreetOct 8, 2025 9:29 AM

View all comments（0）



Euro (EUR) fell further amid fresh political uncertainties. EUR/USD was last at 1.1619 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Risks skewed the downside

"President Macron has to make a choice to either appoint another PM, dissolve the National Assembly or tender his resignation (which is of low probability at this point). There are expectations that a legislative election will be called soon."

"If he opts for this option, then France are back to the polls within 20 – 40 days upon dissolution of the National Assembly. Additionally, the Netherlands will hold General Elections on October 29. These political developments may still pose downward pressure on the EUR in the near term."

"Daily momentum is bearish while RSI fell. Risks skewed the downside. Support at 1.1550, 1.1460 levels. Resistance at 1.1690 (50 DMA), 1.1740 (21 DMA). While the broader fundamental outlook remains supportive of the euro, we see room for EUR to correct lower before layering in on dips."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Tesla Optimus Gen 3 Design Initially Finalized, Musk Sets Hard Target for Supply Chain: 1,000 Units Weekly Production by September.

TradingKey - According to reports from LatePost, multiple sources within Tesla's supply chain have revealed that Tesla recently issued specific procurement guidance for Optimus parts to its suppliers. The company requested that production capacity be increased to 1,000 units per week by September of this year, and further raised to between 2,000 and 2,500 units per week by the end of the year. Based on the year-end weekly capacity estimate, suppliers will have the capability to supply parts for approximately 100,000 Optimus units annually to Tesla by the end of the year.

SK Hynix Shares Surge Over 8%. U.S. IPO Draws 7-Fold Oversubscription, Can It Return to Historic Highs by the End of July?

SK Hynix's US IPO was oversubscribed, boosting its stock price; however, it is unlikely to return to its historical highs by the end of July.

Micron Technology (MU) Stock Forecast: AI Memory Boom Keeps Bulls Focused on $1,100 After Trendline Rebound

Micron rebounds from ascending trendline support as AI-driven HBM demand continues to reshape earnings. Can MU extend toward $1,103 after record Q3 results?

NVIDIA (NVDA) Stock Forecast: DeepSeek Building Its Own Chip - Is $197 the Bottom?

Reuters says DeepSeek is building its own AI chip to cut ties with Nvidia. NVDA slipped 2% on the news but still holds $197. The chart has flipped to a long setup. 61 analysts Buy at $301 avg target.

Japan and South Korea Stocks Surge at Open: Nikkei 225 and Kospi Soar Together, SK Hynix and Kioxia Jump 8%, Samsung and SoftBank Follow

Japanese and South Korean stock markets opened higher and continued to rise, with the KOSPI Index and the Nikkei 225 index gaining to varying degrees. SK Hynix and Kioxia surged by approximately 8%, while Samsung Electronics and SoftBank tracked the gains.

Featured Tools