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
