EUR/USD challenges 1.1000, USD stronger

The single currency has now fully faded the earlier spike to the 1.1300 area vs. the greenback, with EUR/USD now threatening to breach the key support at 1.1000.

EUR/USD lower on USD-buying

Spot is shedding 3 cents since daily highs in the boundaries of 1.1300 the figure recorded overnight, when chances of a victory of Democratic candidate H.Clinton in the US elections were already evaporating.

The pair has returned to the negative territory following a significant pick up in the demand for the greenback, particularly after D.Trump became US President.

In fact, the bid tone has returned to the buck after the US Dollar Index dropped to sub 96.00 levels during the Asian trading hours, where it seems to have found dip-buyers.

EUR/USD levels to watch

The pair is now advancing 0.05% at 1.1031 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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