EUR/USD drifted to the upside, driven by the dollar’s weakness. Is there more to come? The big event of the upcoming week is the French elections, followed by the ECB decision. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.

The latest polls towards the first round of the French presidential elections showed a very close race between no less than four candidates. Only two will make it to the second round. Final euro-zone inflation figures confirmed the drop in both headline and core inflation, vindicating Draghi’s dovishness. In the US, housing figures were mixed and the greenback mostly slipped on a growing disillusion with Trump’s policies.

Updates:

EUR/USD daily chart with support and resistance lines on it.