EURUSD / US Dollar Slips as Markets Brace for Powell’s Speech

US Dollar Declines Early Friday as Markets Await Powell’s Speech

Next Outlook:

The market is currently navigating a crucial zone between 1.10820 and 1.11400. A break above or below this range will likely determine the next directional move. If the price stabilizes above 1.11410, it could signal a potential rally towards 1.12560. Conversely, if the price remains below 1.10820, we may see a decline towards 1.09150.

Jerome Powell's upcoming speech is highly anticipated, as any mention of a rate cut could significantly impact market direction.

Key Levels:

- Pivot Line: 1.1100
- Resistance Levels: 1.11950, 1.12560, 1.1350
- Support Levels: 1.1080, 1.09960, 1.09150

The expected trading range for today is between 1.0900 and 1.12560.