EUR/USD finds support at 1.0900 amid improving French political outlook
EUR/USD stabilized at 1.0905, gaining 0.2% as political tensions in France showed signs of easing following constructive coalition talks. The euro found additional support from better-than-expected German industrial production data, which rose 0.5% monthly versus -0.2% forecast. Cross pairs also reflected euro resilience, with EUR/JPY advancing 0.4% to 161.85 and EUR/CHF holding steady at 0.9745. The single currency's recovery comes after touching three-week lows at 1.0875 earlier in the week. AUD/USD participated in the dollar weakness, climbing 0.5% to 0.6485 on improved risk appetite. Technical analysis shows EUR/USD building a base above the 1.0900 psychological support, with resistance at 1.0935 (50-hour MA) and 1.0950 (daily high). A sustained break above 1.0950 could target the 1.1000 round figure, while failure to hold 1.0900 risks renewed selling pressure.
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