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EUR/USD not bothered by Macron’s win
Emmanuel Macron’s expected win in the French elections has seen little reaction in EUR/USD, but interestingly the pair is moving lower after hitting the descending post-April 2016 trendline.
In a longer-term view we may have seen a top for now in the post-December rally, which would suggest a move back to the $1.0750 area. There is plenty of support on the way down, including $1.0950, $1.0906 and then $1.0830.