EUR/USD keeps correcting lower, around 1.1050 post-Trump

EUR/USD has abandoned the area of daily highs in the boundaries of the 1.1300 barrier and has deflated so far to the mid-1.1000s.

EUR/USD trims gains following Trump’s victory

As the dust post-Trump win continues to settle, the greenback keeps gathering traction and thus extending its rebound from earlier lows, prompting the pair to return to the mid-1.1000s, more than 2 cents lower than daily highs.

In the meantime, markets in Euroland have moderated its initial losses as the risk-aversion sentiment continues to ebb albeit at a snail-pace. Post-elections reactions are thus expected to drive the sentiment around the globe today amidst an absence of other relevant events in both Europe and the US.

Nothing scheduled data wise in the euro area today, while only the EIA’s weekly report on crude oil inventories is due later in the NA session.

EUR/USD levels to watch

The pair is now advancing 0.42% at 1.1073 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).

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