- Euro gains moment against the dollar before it rises in Wall Street.
- EUR / USD is testing levels above 1.1700, away from critical support.
The EUR / USD is cutting on a six-day streak in a row on Tuesday and is up more than fifty pips. In the last hours the upward trend accelerated before a generalized fall of the dollar in the market, product of an advance of the bags. The price exceeded 1.1700 and remains in the zone of the maximums.
Investor optimism, with some growing expectation that there will be no problems with the US election results, has improved the mood of the markets. In any case, volatility is increasing at the start of the presidential elections.
The dollar is falling on all fronts. DXY is trading at a six-day lows near 93.60. The exception is the lira ture which plummets to new all-time lows.
EUR / USD is rebounding strongly after falling to the lowest level in a month and a half near 1.1610 on Monday. It is currently testing the 1.1700 / 05 area where there is significant resistance. In case of affirming above, the euro would gain support. In the opposite direction, a return below 1.1650 would point to further weakness. The key support is around 1.1600, which stopped the declines in September and Monday; a break below would enable more descents.
Credits: Forex Street
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