Technical analysis
The RSI is above 50.
The MACD is at 0 with an uprising indicator.
What the possible outcomes are
Jerome Powell’s speech today might help EURUSD continue benefiting from the upside momentum.
In our most likely scenario, the pair may experience a rise towards the first resistance level of 1.17708.
If the price passes the first resistance level, we can expect a continued uptrend towards the second resistance level of 1.17800.
Conversely, it’s possible to see the pair decline towards the first support level of 1.17423.
If the pair surpasses the first support level, we should expect a continued fall towards the second support of 1.17256.
Key levels
Support 1.17423 1.17256
Resistance 1.17708 1.17800
