EUR/USD moving back to 1.1100 after Trump’s win

The shared currency continues to give away initial gains vs. the greenback, now sending EUR/USD back to the 1.1100 neighbourhood.

EUR/USD upside capped near 1.1300

After an ephemeral test of the 1.1300 handle during the Asian trading hours, the pair’s bull run lost vigour and has now challenging to break below the key support at 1.1100 the figure.

In the meantime, the buck managed to pull itself together after the initial and sharp drop to the 96.00 support when tracked by the US Dollar Index, now extending the bounce after billionaire Donald Trump has become the new US President.

Later in the day and without relevant data releases in both Euroland and the US economy, the sentiment around global markets will be put to the test following the recent events across the pond.

EUR/USD levels to watch

The pair is now advancing 0.65% at 1.1098 and a breakout of 1.1300 (spike Nov.9) would target 1.1367 (high Aug.18) en route to 1.1434 (high Jun.24). On the downside, the immediate support aligns at 1.0990 (low Nov.9) followed by 1.0850 (low Oct.25) and finally 1.0820 (low Mar.10).