EUR/USD Rises to 1.1254 as Dollar Weakens Following US Election Results

Key Facts

The EUR/USD pair rose to 1.1254 on Thursday, November 5, 2026, as safe-haven demand for the US dollar weakened. ActionForex reported that the US midterm election results reduced political uncertainty, providing support to global stock markets and increasing selling pressure on the greenback. The clarification of the election outcome boosted market risk appetite, allowing the Euro to recover from previous support levels.

Technical analysis shows the pair testing resistance at 1.1268, with immediate support levels identified at 1.1223 and 1.1185. According to ActionForex, the Democrats' stronger position eased geopolitical fears, though AI-linked stocks faced pressure over concerns regarding future data center investments. Separately, US Factory Orders grew by 1.8% on November 3, 2026, exceeding the 1.2% forecast.

Markets are now focusing on the US Nonfarm Payrolls report scheduled for November 6, 2026, with a forecast of 65,000 jobs. Several Federal Reserve officials, including Logan, Williams, and Bowman, are also scheduled to speak on the same day, which may provide further clarity on the monetary policy outlook.