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Apr 12 - 06:55 AM

EUR/USD - REFILE-BUZZ-EUR/USD Relief Rally Fade Significant For The Outlook

By Peter Stoneham  —  Apr 12 - 05:10 AM

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  • Technically, Friday-Monday action hinted at a reversal

  • However, failure to drive an early Monday advantage home was significant

  • Euro dropped swiftly from Monday's 1.0955 high to a 1.0876 low- EBS price

  • EUR skating on thin ice just above key support points: 1.0837-1.0806

  • Macron first round win provided only brief relief: second round seen tighter

  • Very slim chance of a Le Pen victory but should limit further EUR bounces

  • Danger for EUR bears is larger margin Macron win on April 24

    For more click on FXBUZ












EUR/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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