EURUSD encounters resistance at 1.0100.

 

Just below the 1.0100 level, the EURUSD is under pressure. The outcome of the US midterm elections continues to be the focus of the markets. Later in the week, US inflation data will be the focus.

As long as sellers are concentrated at 1.0100, the EURUSD has had difficulty testing or breaking through that important resistance area on Wednesday.

EURUSD: Around 1.0100, upward is constrained. The EURUSD surrenders some gains following three straight days of gains and in reaction to yet another unsuccessful effort to re-enter or cross the 1.0100 area, usually on the back of a lackluster dollar recovery.

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