EUR/USD recovers above 1.0700 amid renewed USD selling

HELLO everyone ! Present, the EUR/USD pair is rebounding above 1.0700 during Asian trading on Friday as the US dollar faces new selling pressure and low yields on US Treasury bonds. However, the recovery might be limited due to risk aversion sentiment and a lack of economic data.

Before the Asian trading session, there is a potential consolidation between 1.0710 and 1.0685 levels. Breaking recent lows could result in additional losses targeting the lowest level in June at 1.0660. If the downward trend continues, it could extend towards 1.0630 due to Euro vulnerability without any signs of stability. Closing above 1.0850 would change the prospect to neutral.

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Final GDP Growth Rate in Japan came in at 4.8% YoY.

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The EU is falling into the support zone as expected