There will be FOMC Members’ talks. EUR is moving lower against USD. The weaker Powell’s speech more chance for EURUSD growth.
The support rests at 1.17300 with resistance at 1.17840 which both lines are below the weekly pivot point at 1.18270. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The support line is too strong to be broken, EURUSD is trying to consolidate within the lower Bollinger band. Considering the correction pattern, the first target will be 1.17950.