After three days of persistent declines, Euro-Dollar stabilises around 1.0731

After closing at 1.0731 yesterday, EUR/USD began today at 1.0732 with significant bullish sentiment driving EUR/USD's price action higher. So far today, price action has drawn out a distinct 1.0705 to 1.076 range.

This move comes while some more positive signs for Euro-Dollar are out as United States Core Durable Goods Orders published today at 12:30 UTC came out at -0.2%, falling short of the 0% projections and continuing its decline from the previous 0.3% figure.

Meanwhile, Euro Zone CFTC EUR speculative net positions released today at 20:30 UTC with a figure of 173,700, while the previous figure was 187,100. United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.

A look at other currencies also shows bullish price action as GBP/JPY gained 0.66% and is currently trading at 173.67. GBP/NZD added 0.47% to its value, now trading at 2.0406. USD/JPY rises 0.41% to trade around 140.62.

Having set a peak of 1.1073 around 23 days ago, Euro-Dollar is now trading 3.09% below this level.