On an unexpected move, because of recent polls pre-elections, the Republican nominee, and businessman Donald Trump became the new United States president, catching up the votes from several “battleground” states, where Florida played a key role to define the race towards the White House. As results kept coming during early Wednesday’s session, US dollar plummeted and safe haven’s assets were boosted by a huge demand, because Trump was leading and gaining a big ground across the USA. However, markets managed to stabilize their structures and most of the currencies were back to their pre-election price action.
According to our technical overview for EUR/USD at H4 chart, the pair is back below the 200 SMA, after it reached the 1.1280 level, but during American session, plunged to consolidate below the 1.10 handle. If the pair does a breakout below the 1.0890 level, then it can test the 1.0856 level, only if the US dollar increases during next hours. By another hand, as the Euro gets some boost, it can go towards the 1.10190 level, as long as it manages to consolidate the 1.0964 level.
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Origin: FX BAZOOKA
