EURUSD hits bullish target
The euro is starting to retreat lower against the US dollar after Federal Reserve Chair Jerome Powell sounded more bullish towards the US economy than expected. The EURUSD may have reached its bullish weekly target, with pair reaching 1.1265. Overall, the intraday sentiment surrounding the EURUSD pair is only bearish while price trades below the 1.1216 level.
The EURUSD pair is intraday bearish while trading below the 1.1216 level, key technical support remains at the 1.1190 and 1.1174 levels.
If the EURUSD pair trades above the 1.1216 level, key resistance is found at the 1.1265 and 1.1290 levels.