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Daily Forex Technical Trend Bias/Key Levels
EUR/USD drifted lower to print an intraday low of 1.1192 in yesterday, 10 Jul European session before it rebounded by 70 pips after Fed Chair Powell’s testimony to U.S. Congress that reiterated Fed’s dovish stance on its current monetary policy. Even though the pair is still below the 1.1275 key short-term pivotal resistance as per highlighted in the previous report (click here for a recap) but mix elements now. Thus, prefer to turn neutral between 1.1310 (50% retracement of the slide from 25 Jun high to yesterday’s low of 1.1192) and 1.1245. Only an hourly close below 1.1245 reinstates the bearish tone for a ... (full story)