The pair clinches tops near 1.1750 and retreats. DXY is testing once again the critical 94.40 area. Fed’s Powell will testify before the Senate Banking Committee later. After advancing to fresh tops in the proximity of the 1.1750 area, EUR/USD seems to have met sellers and is now returning to the 1.1725/20 band. EUR/USD now looks to Powell The pair’s buying bias stays well and sound so far today, although spot met a strong resistance area in the mid-1.1700s. The 55-day sma, the base of the daily cloud and a retracement of the April-May descent reinforce this hurdle. On the other hand, the buck is staging a rebound after bottoming out in the 94.30 area during early trade amidst some retracement in yields of the US 10-year note to lows near 2.85%. Events-wise today, Powell’s semi-annual testimony before the Senate Banking Committee should grab all the attention seconded by US Industrial Production figures, the NAHB index and TIC Flows. EUR/USD levels to watch At the moment, the pair is gaining 0.13% at 1.1725 and a break above 1.1745 (high Jul.17) would target 1.1792 (high Jul.9) en route to 1.1853 (high Jun.15). On the other hand, the immediate support aligns at 1.1663 (21-day sma) seconded by 1.1615 (low Jul.13) and finally 1.1527 (low Jun.29). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Focus on Powell’s testimony and industrial production – TDS FX Street 5 years The pair clinches tops near 1.1750 and retreats. DXY is testing once again the critical 94.40 area. Fed's Powell will testify before the Senate Banking Committee later. After advancing to fresh tops in the proximity of the 1.1750 area, EUR/USD seems to have met sellers and is now returning to the 1.1725/20 band. EUR/USD now looks to Powell The pair's buying bias stays well and sound so far today, although spot met a strong resistance area in the mid-1.1700s. The 55-day sma, the base of the daily cloud and a retracement of the April-May descent reinforce this hurdle. On… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
