EUR/USD drops to 1-month low, EUR/GBP 22-month low and EUR/JPY dips on European election shift to the right
Euro drops significantly on shift to the right at European elections and as French President Macron calls for a snap legislative election.
EUR/USD view neutralized
EUR/USD topped out at last week's high at $1.0916 with the 9 May low representing the next downside target at $1.0724. The medium-term outlook has thus been neutralized. Further down lies the mid-April high at 1.0690. Resistance can now be seen in the $1.0780-88 region.
EUR/GBP drops like a stone
EUR/GBP's fall through the key £0.8503-to-£0.8484 support zone negates our previously held bullish view and has the July and August 2022 lows at £0.8409-04 in its sight. Minor resistance can be spotted at the £0.8484 late May low.
EUR/JPY remains side-lined
EUR/JPY comes further off Thursday's ¥170.29 high and gravitates towards its early June low at ¥168.03 low and possibly the mid-May low at ¥167.34.
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