The EUR/USD pair builds on the previous day's goodish recovery move from the 1.1000 psychological mark, or a nearly four-week low and attracts some follow-through buyers for the second straight day on Friday.
EUR/USD builds on this week’s bounce from a multi-week low amid a bearish USD. Bets for a larger rate cut by the Fed and a positive risk tone weigh on the Greenback. Bulls need to wait for a break through a descending channel before placing fresh bets. The EUR/USD pair builds on the previous day's goodish recovery move from the 1.1000 psychological mark, or a nearly four-week low and attracts some follow-through buyers for the second straight day on Friday.
Meanwhile, the European Central Bank refrained from providing a specific interest rate guidance, which underpins the shared currency and contributes to the bid tone surrounding the currency pair. From a technical perspective, spot prices currently trade near the top end of over a three-week-old descending trend channel.
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