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EUR/USD already jumping to 1.09 on French exit polls

Exit polls in France show Macron winning the first round with Le Pen accompanying him in the second place. Other candidates are  behind with 19.5% each. While Le Pen could surpass Macron, it is hard to see any of the candidates in third place pushing Macron out of the second round.

We reported that EUR/USD should open higher and this may be already happening. According to very initial data ahead of the weekly open in New Zealand, EUR/USD trades at 1.09 according to a report by FXStreet.

EUR/USD levels to watch after the favorable first French round

In the meantime, there is more data coming out from early trading in Asia. In addition, some early votes are being counted. EUR/USD is already 200 pips despite Le Pen leading the real vote.

The real results will determine the actual  movements when trading opens. If the actual vote is close, it could be a long night.

French elections – all the updates in one place

1.0905 is the high of 2017. The next level of resistance is at 1.10, followed by 1.12. Support awaits at 1.0830, 1.0775, 1.0630 and 1.0520. The pair closed the week at 1.0724.

The chart below shows the uptrend channel. Fresh live data is still unavailable.

More:  Trading the French Elections with EUR/USD – 4 scenarios

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.