Breaking News: EUR/USD pierces 1.1500 ( 61.8 Fib at 1.1499) to the downside on hawkish Powell

FXStreet Team FXStreet

EUR/USD has just pierced the psychological 1.15 handle with Powell saying that the Fed 'May Raise Rates Past 'Neutral'.

Fed's Powell: 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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FXStreet Team

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