EUR/USD edged higher ahead of the second round of the French elections. Does it have more room to the upside? Apart from the elections, we have GDP and other events from the old continent. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.

The most recent polls look favorable for centrist Macron, with growing support above 60%. The widening gap helps the euro. Economic data also provided a boost: GDP grew by 0.5% in Q1, showing accelerated growth. PMIs were OK, pointing to further growth and retail sales beat expectations with 0.3%. In the US, the Fed left rates unchanged and did not seem worried about the recent slowdown. The Fed helped the dollar, but not against the euro.

Updates:

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