The euro currency was muted as results poured in from the weekend EU wide parliamentary elections. Although populist and anti-EU parties made further inroads, the support was still lower than anticipated. This led to the European equity indexes closing higher on the day. Economic data was subdued even in the Eurozone.
EURUSD Retreats After a Two-Day Gain
The common currency was seen extending declines in the early hours today. This follows a bearish close on Monday which comes after a solid rebound in the currency pair. The euro pared losses as it reversed off lows near 1.1106 last Thursday. Price is seen testing the support at 1.1182. A break down below this level could see the euro retesting the previous lows.
