The EUR/USD pair extended its slide to 1.0824 on Wednesday, finally finding buyers in the area.
EUR/USD Current price: 1.0853 Eurozone PMI data came in worse-than-anticipated, indicating stagnation. Stock markets turned south amid disappointing earning reports. EUR/USD bounced from fresh weekly lows, bullish potential limited. The pair bounced towards the current 1.0850 price zone as the US Dollar came under modest selling pressure. Still, the Euro’s recovery has been limited by softer-than-anticipated local data.
2% in June, according to preliminary estimates, better than anticipated, while the Goods Trade Balance for the same month posted a deficit of $96.8 billion. Coming up next, the US will release June New Home Sales, while S&P Global will publish the preliminary estimates of the July PMIs. EUR/USD short-term technical outlook The daily chart for the EUR/USD pair shows it trimmed most of its early losses, although it still trades in the red.
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