The Euro recovery has been capped a few pips shy of the 1.0700 area, and the pair pulled lower on Thursday, to hit intra-day lows at 1.0645.
Euro recovery fails ahead of 1.0700 and ECB policymakers point to a June rate cut. In the US, strong employment levels and some hawkish comments by Fed’s Williams have provided a fresh boost to the USD. The EUR/USD remains vulnerable, dangerously close to the mid-term low at 1.0600. The dovish comments by ECB policymakers and strong US data endorsing the Fed’s “higher for longer” outlook have weighed the common currency.
Beyond that, the New York Fed President, John Williams has reiterated that there is not an urgency to lower interest rates, which has sent US yields and the US Dollar up from intra-day lows. The near-term bias remains neutral, with the pair unable to put a significant distance from five-month lows. 1.0700 is the immediate resistance, followed by 1.0730 and 1.0755. Support levels are 1.0605 and 1.0553. EUR/USD Overview Today last price 1.0656 Today Daily Change -0.0017 Today Daily Change % -0.
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