EUR/USD back to square one in cautious trade

EUR/USD has pulled back to its opening levels as investors take a cautious stance as they await the US election results.

EUR/USD was rejected from a peak of 1.1066 and retreated all the way back to the 1.1035 area, erasing intraday gains. The pair was last trading at 1.1037, unchanged on the day

EUR/USD fell sharply on Monday after the FBI said it was closing the investigations on Clinton’s private email server. Clinton is seen as the status quo candidate, so her victory could trigger risk-on rallies. Results are expected early on Wednesday

EUR/USD technical levels

In terms of technical levels, next supports could be found at 1.0990 (20-day SMA), 1.0959 (Nov 1 low) and 1.0873 (Oct 26 low). On the other hand, resistances are seen at 1.1127 (100-day SMA), 1.1180  (200-day SMA) and 1.1200 (psychological level). 

To learn more about this topic, check our video analysis:

EURUSD from Tip TV Productions on Vimeo.