EUR/USD climbs back above 1.1200 following US midterm election volatility, with technical charts pointing to a potential trend reversal after last week's dip to 1.1104.
US midterm election results on Nov 4, 2026 rattled the USD, helping EUR/USD reclaim 1.1200. A double bottom pattern formed after the pair touched 1.1104 last week, its lowest since May 2025, signaling buyers are regaining control and supporting further upside.
It suggests buyers are regaining control after the pair touched 1.1104 last week, its lowest since May 2025, and a move above 1.1200 signals further upside.
The EUR/USD pair surged above the 1.1200 level on Wednesday as US midterm election results pressured the US Dollar. Technical indicators now show a double bottom formation, suggesting that buyers have regained control after the pair hit a multi-month low of 1.1104 last week.
It suggests buyers are regaining control after the pair touched 1.1104 last week, its lowest since May 2025, and a move above 1.1200 signals further upside.