EUR/USD remains depressed blow mid-1.0800s, seems vulnerable ahead of US NFP report

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• EUR/USD edges lower for the second straight day and is pressured by a combination of factors.
• Rising bets for an on-hold decision by the ECB in September continue to undermine the Euro.
• The uncertainty over the Fed’s future rate-hike path benefits the USD and weighs on the major.

The EUR/USD pair remains on the defensive for the second successive day on Friday and trades below mid-1.0800s, representing the 200-hour Simple Moving Average (SMA) through the Asian session. The fundamental backdrop, meanwhile, favours bearish traders and supports prospects for an extension of the overnight sharp retracement slide from the vicinity of a two-and-half-week top, around the 1.0945 region touched on Wednesday.