EUR / USD is trading close to 1.1685, which represents a 0.23% drop from Tuesday’s close.
In the Asian session on Wednesday, the pair fell from 1.1771, which is the resistance of the uptrend line from the lows of September 28 and October 16. The setback came after the media projected Trump’s victory in the key state of Florida and North Carolina, dashing hopes of a Democratic sweep.
The rejection at the trend line and the subsequent fall to 1.1673 has reinforced the break down from the trend line confirmed on October 29 and has shifted the risk in favor of a retest to the November 2 low of 1.1622.
That said, risk sentiment would improve if Democratic candidate Biden emerges as a clear winner. In that case, the EUR / USD pair could rise and revisit 1.1771.
EUR / USD day chart
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Credits: Forex Street
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