The EUR / USD has risen about 40 pips in the last half hour, coinciding with the YouGov post predicting that Democrat Joe Biden will sweep in the US elections. The pair has made new one-week highs at 1.1763 and is trading at time of writing above 1.1754, gaining 0.45% on the day.
According to the final model of YouGov’s election poll on the 2020 US elections, Democratic candidate Joe Biden is poised for a landslide victory over incumbent President Donald Trump.
The general forecasts highlight a victory of 382 votes of the voters for Joe Biden, against the 270 needed for a majority.
The risk appetite Faced with a clear victory by the Democrats, he is driving the euro higher, raising the optimism of the markets, which expect a great stimulus plan in the United States if Biden is the winner.
EUR / USD levels
A further rise will face resistance at the 1.1800 zone before heading towards the 1.1835 / 45 region, where there are several late October highs before hitting 1.1880, the October 21 high.
To the downside, the initial support is at 1.1695, the low of the American session on Wednesday. Lower awaits 1.1622, the ground of November 2.
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Credits: Forex Street
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