The EUR/USD pair extended its slide on Wednesday, bottoming during London trading hours at 1.0565. Financial markets turned cautious after mixed earn
EUR/USD Current Price: 1.0572 Upbeat German data fell short of supporting the EUR as the sentiment worsens. United States Treasury yields advance ahead of first-tier events scheduled for Thursday. EUR/USD gains downward traction and points for a slide towards 1.0500. ings reports from big tech names and ahead of first-tier events on Thursday. Nevertheless, most global indexes trade in the green, limiting US Dollar gains. The Euro came under selling pressure despite upbeat German data.
Investors await the European Central Bank monetary policy decision on Thursday, which will be announced alongside the US Gross Domestic Product . The preliminary estimate of the Q3 GDP is foreseen at 4.2%, much better than the previous 2.1%. EUR/USD short-term technical outlook From a technical point of view, the EUR/USD pair is at risk of extending its slide. In the daily chart, the pair is barely holding above a mildly bullish 20 Simple Moving Average , providing dynamic support at 1.0560.
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