EUR/USD breaks higher after election result
EUR/USD has gone up this morning, after the French election pitted Emmanuel Macron against Marine Le Pen. While this was widely speculated, Macron is the strongest candidate for other candidates’ voters to rally around, thus bringing a high likeliness that France will remain in the EU.
Looking at the chart, initial EUR/USD gains have faded somewhat. The price is now returning upwards, with the $1.0899 level key to proving that we have further upside to come. It is worth noting that we need to see a break through $1.0906 to continue the wider uptrend that has been in place since the beginning of 2017.