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EUR/USD falls back after German election
A surprise rise in votes for the Alternative for Germany (AfD) party knocked EUR/USDsomewhat this morning, with a gap lower at the open. However, for the moment we remain within a symmetrical triangle formation, with the creation of lower highs and higher lows.
With that in mind, the current weakness would only translate into a bearish outlook in the event that the price breaks below last week’s low of $1.1861.Until then, we could see the euro come back into prominence as the day goes on.