6/3/2021 9:15:26 AM GMT | By Pablo Piovano
EUR/USD fades the initial optimism and recedes below 1.2200.
The dollar attempts a recovery ahead of key data releases.
Final May EMU Services PMI came in above consensus.
The single currency resumes the downside after a positive start of the session and now drags
EUR/USD back below the key support at 1.2200 the figure.
EUR/USD meets support near the 20-day SMA
EUR/USD sheds ground for the third consecutive session on the back of further recovery in the greenback so far on Thursday.
In fact, the continuation of the buying pressure in the dollar puts the pair under further downside pressure despite the move higher in yields of the German 10-year Bunds and recent higher-than-expected inflation figures in the bloc.
An Inability to Hold Higher Prices Will Encourage a Probing Lower moneyshow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyshow.com Daily Mail and Mail on Sunday newspapers.
The dollar adds to Tuesday’s gains above 90.00. US 10-year yields stay supported by the 1.60% level. MBA Mortgage Applications, IBD/TIPP Index, API next