EUR/USD steady, around 1.0700

The pair EUR/USD printed a new daily minimum at 1.0684 (marginally below the previous minimum), and is currently around 1.0695.

During the last hours it has been moving in a range between 1.0710 and 1.0684, consolidating the losses are modest for the day. The couple and the markets in general are in a consolidation mode, awaiting the weekend. There are No major changes of position in the EUR before the French elections.

The last poll (IFOP) showed Macron leader (24.5%) followed closely by Le Pen (22.5) and Fillon 19.5%. In the second round Macron (60%) exceeds that of Le Pen (39.5%).

The PMI and other economic reports from the Eurozone and the united States are not impacted in the markets. Neither the terrorist attack yesterday in Paris.

Technical levels

The bias intra-day favors the downhill, but the price action remains significantly limited the Friday. If the pair breaks above 1.0710 (moving average of 20 hours), the euro could gain momentum. Next resistance could be seen at 1.0735/40 (daily maximum) and 1.0770.

On the negative side, below 1.0680 the bearish pressure could increase. The area around 1.0640 (uptrend line from the lows of April) is likely to offer support; A break lower points to an extension of the decrease.

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