News

EUR/USD technical analysis: Euro stays under pressure during Fed’s Powell testimony

  • EUR/USD is confined in a tight range during Fed’s Powell testimony.
  • The level to beat for bears is the 1.0995 support level.
 

EUR/USD daily chart

 
The Fiber, on the daily chart, is trading in a downtrend below its main daily simple moving averages (DMAs). Fed’s chief, Jerome Powell, is currently testifying on the economy before a special Congressional commission. 
 

EUR/USD four-hour chart

 
The spot remains under pressure below the 1.1016 level. The market is likely looking for an extension of the down move towards the 1.0995, 1.0965 and 1.0920 support levels, according to the Technical Confluences Indicator. 
 

 

EUR/USD 30-minute chart

 
The Euro is trading in a tight range below its main SMAs. Resistance can be seen at the 1.1016, 1.1033, 1.1056 and 1.1079 price levels, according to the Technical Confluences Indicator.
 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.