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A possible Biden win pushed the USD to a 1-month low – EUR/USD Market Outlook – 06/11/2020


The Euro breaks above 1.18 as the market anticipates a Biden victory. However, the jury is still out on the final outcome, with votes still being counted in five key states of Pennsylvania, Georgia, Nevada, Arizona, and North Carolina. Meanwhile, Chairman Powell stated that the Fed stands ready to provide more stimulus, weighing further on the USD. Today, we could see further gains on the pair towards 1.19, if the US NFP and election results won’t trigger a risk-off event.

Support: 1.1790/ 1.17
Resistance: 1.1870/ 1.19

SquaredFinancial Daily Market Outlook


Source: https://www.squaredfinancial.com/learn/daily-market-outlook/a-possible-biden-win-pushed-the-usd-to-a-1-month-low-eur-usd-market-outlook-06-11-2020
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