EUR/USD opens +0.31% as rising EZ yields encourage short-covering

The 10-year DE-US yield spread has narrowed 10 bps since Thursday's close

Hawkish ECB comments pushing back on market view ECB ended tightening cycle nL1N3AU0EBnL8N3AU25M

EUR/USD recovery relatively modest, as market awaits FOMC decision Wednesday

EUR/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment

Resistance is at the 10-day MA at 1.0703 with offers tipped at 1.0700

A break above 1.0710 target the 21-day MA at 1.0767

Support is @ 1.0630/35 and a break below 1.0630 would accelerate trend lower

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