EUR is expected to fall due to the first election results which will be announced tomorrow morning. The second wave of the Coronavirus is making the European authorities applying more rules on quarantines which means more pressure on economic issues. The service sector started the decline.
EURUSD hit 1.16215 which is close to the previous low at 1.16114. The correction pattern is most likely to happen.
All the indicators are showing bullish momentum. The stochastic is showing upward pressure, the RSI is growing towards level 50 and the MACD is moving in positive territory.
The support holds 1.16100 with resistance at 1.16640. The resistance line breakout will push the price up towards 1.17800 but the pressure on EURUSD remains and sellers can await 1.16000.
