EUR/USD: Turnaround in the global risk sentiment

EUR/USD managed to find some support ahead of the 1.0800 round-figure mark and caught some fresh bids during the Asian session on Friday amid a turnaround in the global risk sentiment, FXStreet’s analyst Haresh Menghani reports.

Key quotes

“The overnight break below a short-term ascending trend-line now seems to have shifted the near-term bias back in favour of bearish traders.” 

“It will be prudent to wait for some follow-through weakness below the 1.0810-1.0800 region before positioning for any further depreciating move.”

“On the flip side, any subsequent recovery might now confront some fresh supply and seems more likely to remain capped near the 1.0900 round-figure mark.”