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.

Flavio Tosti Independent Analyst

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

EUR/USD

Overview
Today last price	1.1003
Today Daily Change	-0.0008
Today Daily Change %	-0.07
Today daily open	1.1011

Trends
Daily SMA20	1.1101
Daily SMA50	1.1042
Daily SMA100	1.1108
Daily SMA200	1.1184

Levels
Previous Daily High	1.104
Previous Daily Low	1.1002
Previous Weekly High	1.1176
Previous Weekly Low	1.1016
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1017
Daily Fibonacci 61.8%	1.1025
Daily Pivot Point S1	1.0996
Daily Pivot Point S2	1.0981
Daily Pivot Point S3	1.0959
Daily Pivot Point R1	1.1033
Daily Pivot Point R2	1.1055
Daily Pivot Point R3	1.107

Author

Flavio Tosti

Independent Analyst

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