EUR/USD Fell from 1.1020

Yesterday, Emmanuel Macron won the second round of presidential elections in France against his opponent Marine Le Pen, and not only did he win, but he did so decisively. The final result was that 66.1% of the voters supported him while 33.9% supported Marine Le Pen.

Surprisingly, EUR/USD did not open with a bullish gap as it did after the first round of the elections, when Macron still had a small lead. The pair fell from a high at 1.1020 and then continued moving to the downside. It is currently testing the support at 1.0930, and if it breaks out below that level it will likely continue moving to the downside towards the next major support level at 1.0865, which coincides with the (MA)89 indicator on the four-hour time-frame.