EUR/USD thrashed on Brexit favouritism, but holds above March lows

Dhwani Mehta FXStreet

With markets presuming a Brexit victory, the EUR/USD pair ran through fresh selling pressure alongside renewed risk-aversion wave in the equities, sending the major further south to test 1.09 handle.

According to the latest reports, BBC forecasters along with those from ITV and Sky News are announcing that Leave have won, with 52% for leave and 48% for remain as votes in 305 areas out 382 have already been counted.

The main currency pair looks vulnerable and is set to test fresh 2016 lows near 1.07 handle, once the official announcement for Brexit is made public.

Levels Ahead:

Higher side: 1.1200

Lower side: 1.0700

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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