French leader Emmanuel Macron and challenger Marine Le Pen qualified for what promises to be a very tightly fought presidential election runoff on April 24, pitting a pro-European economic liberal against a far-right nationalist.

With 96 percent of the votes counted for Sunday’s first round, Macron garnered 27.41 percent of the votes and Le Pen 24.03 percent.

The EURUSD market is bearish and positioned for pressing selloffs to 1.0836. Be prepared for an accelerating selloff if trade presses below 1.0930. Any corrections contained within last week's congestion, stalling near 1.0960 will keep the market aligned for bear trending. A close over 1.0988 is needed to stop pressing bear forces and spark a recovery phase.

Resistance 2       1.0960
Resistance 1       1.0940
 
Support 1            1.0864
Support 2            1.0848