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  • EUR/USD is confined in a tight range ahead of Fed’s Powell testimony.
  • The level to beat for sellers is the 1.0995 support level.

EUR/USD daily chart

The Euro, on the daily chart, is trading in a bear trend below the main daily simple moving averages (DMAs). Fed’s chief, Jerome Powell will be testifying on the economy before a special Congressional commission at 16:00 GMT. Traders will be on the lookout for any clues about the future of monetary policy.

EUR/USD four-hour chart

The spot is drifting down as it remains depressed below the 1.1016. Investors are likely looking for an extension of the bearish move towards the 1.0995, 1.0965 and 1.0920 support levels, according to the Technical Confluences Indicator.  

EUR/USD 30-minute chart

EUR/USD is under pressure below its main SMAs. Resistance can be seen at the 1.1016, 1.1033, 1.1056 and 1.1079 price levels, according to the Technical Confluences Indicator.

Additional key levels