Home EUR/USD Technical Analysis: Looks to Powell for a potential test of 2019 lows at 1.1026

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EUR/USD Technical Analysis: Looks to Powell for a potential test of 2019 lows at 1.1026

FX Street

Updated: 23 Aug. 2019 | 11:37

EUR/USD remains under pressure in weekly lows around 1.1060 ahead of the key speech by Fed’s J.Powell.
Extra gains appear limited by recent tops in the vicinity of the 1.1120 level ahead of the more relevant 21-day SMA at 1.1132.
If the selling pressure gathers renewed traction, immediate contention is seen around 1.1060 (weekly lows) ahead of the 2019 low at 1.1026.

EUR/USD daily chart

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