Breaking News: EUR/USD pierces 1.1500 ( 61.8 Fib at 1.1499) to the downside on hawkish Powell
|EUR/USD has just pierced the psychological 1.15 handle with Powell saying that the Fed 'May Raise Rates Past 'Neutral'.
Earlier remarks:
- Fed's Powell: U.S. economy 'remarkably positive'
- Not really seeing any impact yet from trade disputes
- We do not detect financial instability as elevated now
Joseph Trevisani, Senior Analyst at FXStreet explained, "The U.S. 10-year traded as high as 3.18 percent on Wednesday, the highest in seven years, spurred by the surging U.S. economy and a determined Fed. Treasury rates are entering the range of consequence, where higher interest costs will begin to have an economic impact."
EUR/USD next downside fibo level to target
EUR/USD has been changing hands below the daily cloud and RSIs are still biased to the downside. A break of and a close below the 61.8 Fib at 1.1499 (1.1302 August low and 1.1818) opens the 1.1424 76.4% Fibo of the same range as next target.
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