EURUSD USD gains momentum as government bond yields rise again

EUR/USD was little changed as traders awaited further stimulus following the release of disappointing Eurozone PMI data. Germany's Ifo business report showed business confidence improved from 85.8 in September to 86.9 in October, but this did not provide additional support for European currencies.

From a technical perspective, EUR/USD is unable to settle above the resistance at 1.0670-1.0700 and is heading towards the next support at 1.0520-1.0550.