EUR/USD flirting with lows near 1.1050 on Sentix

The offered behind the EUR/USD pair remains intact, despite a better print of the Eurozone Sentix data, as investors continue to focus on US elections-related developments from fresh incentives.

EUR/USD losing sight of 1.11 handle                                                               

Currently, EUR/USD sinks -0.80% to 1.1051, hovering close to fresh four-day lows struck at 1.1049 last hour. The bears remain relentless in the European session as increased bets of a Clinton win continue to drive the greenback and treasury yields higher, eventually weighing heavily on the EUR/USD pair.

The FBI clearance of Clinton’s emails has refueled hopes of a Clinton win tomorrow, which restored investors’ confidence. Hence, the funding currency euro also suffered from Clinton-led risk-on rally in the European equities.

Meanwhile, markets appear to have ignored upbeat Sentix investors’ confidence data (13.1 versus 9.0 exp.), as the US elections-related news flow continue to dominate broader market sentiment. Next of note for the major remains the US LMCI data due later in the NA session.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.1100 (round figure/ 5-DMA). A break beyond the last, doors will open for a test of 1.1130 (100-DMA) and from there to 1.1195 (200-DMA). On the flip side, the immediate support is placed at 1.1039 (10-DMA) below which 1.1000 (psychological levels) and 1.10982 (Oct 13 low) could be tested.

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