EUR/USD posts a fresh three-week high near 1.0830 in Friday’s European session.
EUR/USD refreshes a three-week high near 1.0830 due to multiple tailwinds. The Euro strengthens as the far right may fail to gain an outright majority in French elections. The US Dollar weakens due to multiple tailwinds, with US NFP in focus. The major currency pair strengthens as the Euro’s outlook improves ahead of the second round of French elections, scheduled for Sunday, and sheer weakness in the US Dollar .
0770, respectively. The overall trend of the shared currency pair has also strengthened as it has jumped above the 200-day EMA, which trades around 1.0800. The Symmetrical Triangle formation on the daily timeframe exhibits a sharp volatility contraction, which indicates low volume and narrow ticks. The 14-day Relative Strength Index reaches 60.00.
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