EUR/USD is currently hovering around 1.09. A close below 1.0806 would open up additional losses, economists at Nordea report.

Euro could gain some momentum if Macron wins France’s presidential election

“From a technical perspective, a close below 1.0806 opens the door for further downside but from current levels the downside should be quite limited.”

“In the short-term, the euro could gain some momentum if Macron is able to win the second round of France’s presidential election. Macron’s win is the base case scenario in the markets, but uncertainty is still keeping the euro under pressure.”