The EUR/USD currency pair opened trading near the 1.0700 level, with the most recent transaction occurring at 1.0725. Initially, the pair experienced a decline as yields and the US dollar strengthened in early trading. This downward movement was further exacerbated by a rally in the USD/CNH pair, which surged above the 7.2360 level, and a simultaneous drop in commodity prices. These factors combined to put downward pressure on the EUR/USD pair.

As the trading session progressed, bearish sentiment intensified, pushing the EUR/USD pair down to the 1.0670 level. However, at this point, the downward momentum began to fade, and buyers started to emerge. The shift in sentiment was driven by gains in equity markets and a weakening of both yields and the US dollar. This change in market dynamics provided support for the EUR/USD pair, helping to stabilize its value and prevent further declines.