EUR/USD hits fresh lows below 1.0950

The US dollar continues to rise against the euro after the beginning of the American session. EUR/USD broke below 1.950 and bottomed at 1.0928, hitting the lowest level since October 28. 

The pair is hovering around 1.0950, 60 pips below yesterday’s closing price and 350 pips below Asian session highs. The strong reversal appears to still have momentum. Stocks in the US also reversed and now the Dow Jones index is testing yesterday’s highs after making a comeback of almost 1000 points. 

The victory of Donald Trump in the US triggered sharp moves across financial markets. The euro has been among the most affected currencies during  the last hours. Since the European session, the common currency lost ground in the market. EUR/GBP it a 5-week lows below 0.8800 while EUR/CHF is at 4-month lows below 1.0750. The pound has risen sharply during the last hours. 

EUR/USD levels to watch 

To the upside, resistances are seen at 1.0980 (Asian session low), 1.1070 (20-hour moving average) and 1.1180 (200-day SMA). On the other hand, supports could be found at 1.0925/30 (daily low), 1.0892 (Oct 28 low) and 1.0850 (Oct 25 low). 

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