EUR/USD Spikes Above 1.09

For the first time in 5 months the Euro went as high as 1.0920. The pair reacted to news coming from the French election day where the French nation chose Macron as the first one to go to second round against Le Pen.

The different views of the candidates are what made the spike in the Euro Dollar so obvious. Macron is Pro-European and focused on close partnership with the European union, whereas Le Pen has the potential to create a Frexit, after the Brexit.

Macron boosted the European currency as well as European stocks. The Euro went as high as 1.0920 against its major competitor - the US dollar. Currently, trading price is gravitating towards 1.9865.

Main trend on the short-term remains bullish.

Chart: EUR/USD M15