EUR/USD stays under modest bearish pressure and declines toward 1.0700 after posting small gains in the first three days of the week.
EUR/USD edges lower but holds above 1.0700 on Thursday. The US Dollar could struggle to gather strength if risk flows dominate the markets. Next key support for the pair is located at 1.0670. The near-term technical outlook points to a bearish tilt but the pair could find support in case risk flows dominate the action in financial markets in the second half of the day.
On the other hand, a reading below 220,000 could suggest that the previous increase was due to temporary factors and help the USD stay resilient against its rivals. In the second half of the day, investors will pay close attention to comments from Federal Reserve policymakers and the market mood. If Fed officials voice a preference to wait until the end of the year to lower the policy rate, EUR/USD could come under renewed bearish pressure.
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