The euro has moved back towards the 1.1650 level after Federal Reserve Chair Jerome Powell struck a more dovish tone during the second part of his testimony before US Congress. The MACD indicator across the four-hour time frame is also showing bullish potential, however, price still trades below the 200-period moving average on the mentioned time frame. Sellers will once again target a break below the 1.1600 level, while buyers will look to push the price above the 200-period moving average.
The EURUSD pair is only bearish while trading below the 1.1650 level, key support is found at the 1.1630 and 1.1600 levels.
If the EURUSD pair moves above the 1.1650 level, buyers may once again test towards the 1.1684 and 1.1700 resistance levels.
