- EUR / USD has lost about 85 pips from the highs for the day, momentarily dipping to 1.1685.
- President Trump leads the scrutiny in Florida, while McConnell wins in Kentucky.
The EUR/USD it has fallen after reaching its highest level since October 28. The pair has reacted downward to the news that Donald Trump is leading the vote count in Florida. At time of writing, the cross is trading above 1.1708, gaining 0.05% on the day.
The administration Trump is regaining hopes of reelection, considering that the current president could win Florida, which causes a fading of the optimism of the markets. This, coupled with the reelection of House Speaker Mitch McConnell in Kentucky, is weighing on business sentiment.
At the start of the Asian session, markets positively valued the possibility of a broad victory for Democratic candidate Joe Biden, which boosted risk appetite, driving US futures and US bond yields higher. 10-year US Treasury.
Technical analysis
A descending trend line from Sept 1, currently around 1.1845, may be key as a bullish barrier for the EUR / USD bulls.
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Credits: Forex Street
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