EUR/USD consolidates recovery from 4-month lows

• EUR/USD up on Friday, flat for the week..
• US Dollar stabilized during the American session against majors, up versus EM

The EUR/USD pair is rising on Friday for the second day in-a-row but it was unable to extend gains during the American session as the US Dollar recovered strength on the back of rising US yields.

The euro peaked on Friday at 1.1969, the highest since Monday. The area around 1.1970 capped the upside. EUR/USD is about to end the week, steady moving in a range between 1.1930 and 1.1960, marginally below the level it closed last week.

EUR/USD recovered ground after falling on Wednesday to 1.1821, the lowest since December. The weekly close far from the lows could signal some consolidation ahead. Some bearish pressure is still seen. The weekly chart is about to form a doji, after rebounding at the 20-week moving average.

Next week, key data from the Eurozone is due, including GDP, ZEW survey and CPI. In the US, retail sales on Tuesday area likely to gain attraction.