Technical Analysis: EURUSD stays positive around fortnight top ahead of Powell's testimony
While printing a three-day winning streak above 1.0790, EURUSD aims to confront a 100-day EMA level of 1.0950 ahead of the Fed Chair Jerome Powell's testimony. However, the pair's further upside is likely to be challenged by a falling trend line from March 27, at 1.0960. Should buyers gain the support of the Fed Chair's testimony and breaks 1.0960 resistance, odds of the pair's run-up beyond the monthly top near 1.1020 can't be ruled out.
On the contrary, Wednesday's top of 1.0895 offers immediate support to the pair during the pullback ahead of an ascending trend line from April 24, currently around 1.0800. Although fewer chances suggest the pair's fall below 1.0800, the bears might not refrain to aim for April month low near 1.0730/25 during further downside.