The EUR/USD pair trades uneventfully at around 1.0820 on Wednesday, still confined to a tight intraday range, with the US Dollar maintaining the soft tone across the FX board.
EUR/USD Current price: 1.0824 The US Dollar can not lift its head after Fed eral Reserve’s Powell resumed the hawkish tone. Market participants await a United States inflation update on Thursday. EUR/USD trades within familiar levels but bulls remain in charge. Financial markets were unable to take directional clues from Fed eral Reserve Chairman Jerome Powell’s testimony before Congress.
Powell will repeat its testimony on monetary policy before a different commission in the American afternoon. EUR/USD short-term technical outlook From a technical point of view, the EUR/USD pair is bullish, according to the daily chart. The pair keeps comfortably trading above all its moving averages, with the 100 and 200 Simple Moving Averages converging around 1.0790 and providing support.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Price Analysis: Trades below 1.0700, stays within the consolidative rangeEUR/USD retraces its gains registered in the previous session, trading around 1.0690 during the Asian hours on Friday.
Read more »
EUR/USD Price Analysis: Hovers around 1.0750 within the consolidative rangeEUR/USD halts its three-day winning streak, trading around 1.0730 during the Asian hours on Monday.
Read more »
EUR/USD: Topside for EUR/USD is very limited – Societe GeneraleThis morning’s IFO data confirm what the PMIs told us – expectations are down, FX strategist Kit Juckes at Societe Generale notes.
Read more »
EUR/USD Forecast: Bulls give it another tryThe EUR/USD pair recovered the 1.0700 mark and trimmed its Wednesday losses when it bottomed at 1.0665.
Read more »
EUR/USD Forecast: Bulls take control and aim to reconquer 1.0800The EUR/USD pair advanced throughout the first half of Wednesday, as demand for the US Dollar fell following comments from Federal Reserve (Fed) Chairman Jerome Powell mid-Tuesday.
Read more »
EUR/USD Forecast: Bulls need a strong catalyst to retest 1.0800The US Dollar (USD) added to the negative start to the week and receded marginally on Tuesday, lending some tepid support to the risk complex and lifting EUR/USD to as high as the 1.0760 zone, where some initial resistance seems to have emerged.
Read more »