EUR/USD pullback jostles with 1.0950 as central banks, Fed Powell propel US Dollar, PMI in focus

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• EUR/USD remains pressured after reversing from seven-week high.
• Improvement in Eurozone Consumer Confidence failed to defend Euro bulls amid broad US Dollar strength.
• Hawkish central bank moves, Fed Chair Powell’s defense of rate hike trajectory renews US Dollar buying.
• Flash PMIs for June will be crucial for immediate directions.

EUR/USD bears attack short-term key support as the quote struggles to extend the previous day’s reversal from a seven-week top near 1.0950 amid the early hours of Friday’s Asian session. The Euro pair dropped the most in three weeks the previous day while taking a U-turn from the highest levels since early June, despite the upbeat Eurozone statistics, as the US Dollar cheered upbeat US Treasury bond yields and hawkish comments from Fed Chair Jerome Powell.