EUR/USD has been restricted to a slender vary of one.1115-1.1063 since last Fri.
The try is presently inquiring the lower fringe of the mercantilism vary.
A range breakdown, if any, might lure sellers on the incorrect facet of the market if Fed's Powell sounds pacifist.
EUR/USD didn't shut on top of one.11 for the fourth straight day on weekday and is presently teasing a draw back break of the five-day mercantilism vary of one.1115-1.1063.
As of writing, the try is mercantilism at one.1068. A 4-hour shut below one.1063 would make sure a variety breakdown. that may imply a commencement of the sell-off from recent highs close to one.1250 and open the doors for a drop below the psychological support of one.10.
Focus on Powell's speech
Federal Reserve's (Fed) Chairman Church Father Powell can speak Fri morning at the Fed’s annual Jackson Hole conference, a very important gathering of central bankers and economists.
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