Following Wednesday's upsurge, EUR/USD turned south on Thursday and closed the day deep in negative territory.
EUR/USD stays under bearish pressure following Thursday's U-turn. The pair faces next key support at 1.0800. Retreating US Treasury bond yields could help the pair find a foothold. Following Wednesday's upsurge, EUR/USD turned south on Thursday and closed the day deep in negative territory. The pair stays on the back foot early Friday and trades within a touching distance of 1.0800. The renewed US Dollar strength forced EUR/USD to make a sharp U-turn on Thursday.
0800 remains intact as support, sellers could be discouraged and investors could look to unwind short positions ahead of the weekend. In this scenario, 1.0830-1.0840 could be seen as first resistance before 1.0860 and 1.0890 . Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar.
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