EUR/USD stalls the bounce above 1.1650 on US election nail biter

In a nail-biting fight to the 2020 US Presidential race, EUR/USD is struggling to extend the rebound from four-month lows of 1.1605 reached earlier in the Asian session.

The spot trades at 1.1650, down 0.50% on the day, as we write. The US dollar is off the multi-week highs but remains strongly bid, as the election race tightens. The S&P 500 futures, however, rise 1%.

The likely delay in results from Michigan, Wisconsin, and Pennsylvania due to slow counting is somewhat weighing in on the market mood. Meanwhile, President Trump bags Florida while Arizona is called for Joe Biden. There is an increased odds of an electoral college tie.

Markets remain in limbo and await the outcome of the presidential election, benefiting the safe-haven US dollar. Attention now turns towards the US ADP jobs data and ISM Services PMI report for fresh trading incentives.

EUR/USD technical levels