EUR/USD closed in negative territory on Tuesday but managed to stabilize above 1.0900.
EUR/USD fluctuates in a narrow band above 1.0900 on Wednesday. Improving risk mood helps the pair hold its ground. The US Treasury will hold a 10-year note auction later in the day. The technical outlook is yet to point to a buildup of bearish momentum. Following Monday's highly volatile action, markets have calmed down on Tuesday. After falling sharply at the beginning of the week, the US Dollar Index recovered modestly, causing EUR/USD to stay on the back foot.
For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR /USD . The data from Germany showed on Wednesday that Industrial Production expanded by 1.4% on a monthly basis in June. This reading came in better than the market expectation for an increase of 1%. The economic calendar will not feature any high-tier data releases that could impact EUR/USD's action.
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