EUR/USD trades in a narrow channel at around 1.0300 after posting small daily losses on Monday.
EUR/USD holds steady at around 1.0300 in the European morning on Tuesday. Fed Chairman Jerome Powell testifyon the semiannual Monetary Policy Report. The technical outlook shows that the bearish bias remains unchanged in the near term. Investors refrain from taking large positions ahead of Federal Reserve Chairman Jerome Powell's testimonyon the semiannual Monetary Policy Report before the Senate Banking, Housing and Urban Affairs Committee at 15:00 GMT.
In case Powell reiterates the cautious approach to policy easing, citing the uncertainty surrounding the inflation outlook on Trump tariff policy, the US Dollar could hold its ground and make it difficult for EUR/USD to stage a rebound. On the flip side, the USD could come under selling pressure and open the door for a leg higher in the pair, if Powell suggests that the changes to the trade policy are unlikely to influence inflation developments in a significant way.
Currencies Majors Technical Analysis
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 Forecast: Euro stays below key technical level ahead of FedEUR/USD lost more than 0.5% on Monday as the US Dollar (USD) benefited from the souring risk mood.
Read more »
EUR/USD Forecast: Euro sellers retain control ahead of key inflation dataEUR/USD closed in negative territory for the third consecutive day on Thursday and continued to edge lower early Friday.
Read more »
EUR/USD Forecast: Euro holds above key technical level to begin the weekEUR/USD closed the previous week in positive territory and continued to stretch higher early Monday.
Read more »
EUR/USD Forecast: Euro buyers hesitate after Monday rallyEUR/USD gathered bullish momentum at the beginning of the week and gained more than 1% on Monday.
Read more »
EUR/USD Forecast: Euro could push higher once it clears 1.0440After rising to the 1.0450 area earlier in the session, EUR/USD lost its bullish momentum and erased its daily gains.
Read more »
EUR/USD Forecast: Euro retreats but holds above key support levelEUR/USD climbed to its highest level in over a month above 1.0450 in the early American session on Wednesday but struggled to preserve its bullish momentum.
Read more »