While EUR bears were expected to pull down the price, Powell’s speech did not accelerate it.
The support rests at 1.10020 with resistance at 1.10260 which both lines are below the weekly pivot point at 1.10440. 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 showing upward momentum and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
EURUSD may continue its decline towards the lower Bollinger band at 1.09800.
