EUR/USD Price Analysis: Not out of the woods yet.

EUR/USD stages decent support to the area above 1.0700.The resumption of the downside could retest 1.0635.EUR/USD rebounds from 2-month lows in the 1.0630 region and reclaims the area just beyond 1.0700 the figure on Thursday.

The pair remains under heavy pressure and a breach of the May low at 1.0635 (May 31) could pave the way to a drop to 1.0600 prior to the March low at 1.0516 (March 15).

A deeper pullback to the 2023 low at 1.0496 (January 6) would likely need a sharp deterioration of the outlook, which appears not favoured for the time being.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0492.

EUR/USD retreats below 1.0700 after upbeat US employment data

EUR/USD has lost its recovery momentum and retreated slightly below 1.0700 in the early American session on Thursday. After the monthly data published by the ADP showed that private sector payrolls rose 278,000 in May, the US Dollar found support and forced the pair to edge lower.

EUR/USD News

GBP/USD pulls away from daily highs, stays above 1.2450

GBP/USD has edged lower from the daily high it set above 1.2480 but managed to stay above 1.2450. Although the US Dollar stays resilient against its rivals after the better-than-expected private sector employment data, the risk-positive market atmosphere helps the pair hold its ground.

GBP/USD News

Gold stays in daily range above $1,960 as US yields puch lower

Gold price declined below $1,960 in the early American session but didn’t have a hard time rising back above that level. Despite the upbeat ADP employment data from the US, the 10-year US Treasury bond yield stays in the red well below 3.7%, providing a lift to XAU/USD.