EUR/USD choppy around 1.0870
|The upbeat tone around the single currency stays unchanged at the beginning of the week, with EUR/USD in a consolidative mode around 1.0870.
EUR/USD gains capped around 1.0920
The pair is looking to stabilize around current levels, partially fading the spike to fresh 2017 tops in the 1.0920 region seen during overnight trading.
Spot has started the week on a solid form after yesterday’s win by centrist Emmanuel Macron at the French presidential elections has morphed into a wave of buying orders for EUR.
By the same token, the common currency has been benefited by the relief-rally in response to the performance from far-right candidate Marine Le Pen, who will again face Macron in the second round on May 7. Currently, and according to latest polls, Macron would be winning 61%-39%.
In the data space, German IFO figures came in on a positive tone for the current month, while in the US calendar, the Chicago Fed National Activity Index dropped to 0.08 in March from 0.27.
EUR/USD levels to watch
At the moment, the pair is gaining 1.30% at 1.0867 facing the next hurdle at 1.0905 (high Mar.27) followed by 1.0920 (2017 high Apr.24) and then 1.1000 (psychological handle). On the flip side, a breach of 1.0838 (200-day sma) would target 1.0821 (low Apr.24) en route to 1.0780 (high Apr.20).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.