EUR/USD back under 1.1700 currently
The upside today has so far stalled at the 100-hour MA (red line), a level pointed out here earlier in the day. It's been a relatively quiet session so far in trading, with a lack of economic data releases and the fact that UK markets are closed.
Political headlines in Italy and Spain are the key risks right now for the euro, and the relief from the failed anti-establishment government has so far helped the euro to rally on the day. Though, that relief may be temporary as we may get stuck in the same situation now if the electoral law doesn't change by the next elections - a lot of uncertainty is still around.
As for trading today, there's also large expiries at 1.1700 that could help draw price action to stay close to the figure level as we head into US trading later so be wary of that.
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