Technical analysis
The price trades above EMA(50) and EMA(100)
The EMA(50) and EMA (100) cross, which is favourable for opening an order
The EMA(50) is above EMA(100), which is advantageous for bulls
The MACD indicator is above 0, with the signal line staying neutral
The RSI is above 50.
What the possible outcomes are
Yesterday EURUSD hit the lowest level since April at 1.17740. However, the last speech of the Fed’s Chairman Powell put the pair on the uprise. He calmed down the hopes of potential monetary policy normalization, and the price now trades at 1.18350.
Technical indicators show a possible bullish move. If the price rises, it may reach 1.18535 as the first resistance level, with 1.18805 lying ahead.
Alternatively, if the price reverses, it could slide to the first support level of 1.18000. A further decline may open the way toward the second support of 1.17735.
Key levels
Support 1.18000 1.17735
Resistance 1.18535 1.18805
