There was a quiet market in Eurozone with no publications and comments. Powell’s speech put EURUSD under pressure.
The support rests at 1.16690 with resistance at 1.17230 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.
It seems that EURUSD is not currently considering the correction pattern. The bearish pressure might drag the price down towards 1.16600.