The EUR/USD pair trades with a soft tone on Tuesday, further retreating from the peak posted at the beginning of the week at 1.0775.
EUR/USD Current price: 1.0728 ECB President Christine Lagarde and Fed Chairman Jerome Powellon the wires. The Eurozone confirmed the June Harmonized Index of Consumer Prices at 2.6% YoY. EUR/USD may extend its near-term recovery, although bears dominate the wider view. The US Dollar advanced despite tepid United States data as the country reported on Monday that the ISM Manufacturing Index contracted to 48.5 in June from 48.7 in May, missing expectations of an uptick to 49.1.
9%, also missing expectations of 2.8%. The US calendar has nothing relevant to offer beyond potential comments from Powell and Lagarde in the aforementioned event. EUR/USD short-term technical outlook The daily chart for the EUR/USD pair shows it trades below a bearish 20 Simple Moving Average , which extends its downward slope below directionless 100 and 200 SMAs.
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