Forex News

ECB speakers discuss inflation and key levels to watch for EUR/USD and EUR/JPY.

The euro's bullish momentum is back in focus as the dollar weakened following Federal Reserve Chairman Jerome Powell's testimony in front of the U.S. House Financial Affairs Committee, which stressed a more gradual pace of rate rises in the future. A bullish continuation appears in play in EUR/USD, with further upside remaining constructive upon a daily hold above 1.0965 and upside levels of resistance at 1.1033 and 1.1100. The MACD hints towards extended upside momentum, but the bullish continuation would need to be reassessed in the event the pair trades and closes below 1.0910.