The EUR/USD pair recovered the 1.0700 mark and trimmed its Wednesday losses when it bottomed at 1.0665.
EUR/USD Current price: 1.0719 Upbeat United States data fueled market’s optimism and pushed the USD lower. European Economic Sentiment contracted in June to 95.9, also missing expectations. EUR/USD en route to extend its recovery, critical resistance at 1.0750. Demand for the US Dollar lost steam throughout the first half of the day despite the market mood remaining sour.
At the same time, the country reported that Initial Jobless Claims for the week ended June 21 at 233K, better than the 236K expected. The US will later release May Pending Home Sales and the June Kansas Fed Manufacturing Activity Index. EUR/USD short-term technical outlook The EUR/USD pair hovers around 1.0720, and although the bearish momentum has receded, it is still at risk of falling.
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