EUR/USD remains under pressure in the face of geopolitical tensions, Powell's speech in sight

The EUR/USD remains under pressure this Thursday morning, after an already strong Wednesday. bearish, while the news continues to provide little reason to be optimistic about the currency pair.

Recall that the war between Israel and Hamas highlighted the safe-haven status of the Dollar, despite the risk that the United States ends up being directly involved in the conflict.

The greenback is all the more solid as the US statistics are also recently . The most recent example concerns much stronger than expected retail sales for the month of September, for which data has been updated. announced Tuesday.

The better-than-expected US statistics reinforce speculation that the Fed will have to maintain its high rates for longer than previously thought, which constitutes a bullish factor for the Dollar.

>>See the results of all the important statistics for EUR/USD in the economic calendar!

Looking ahead to Thursday, forex traders will be watching jobless claims and the Philadelphia Fed index at a higher rate. 2:30 p.m., before sales of existing homes at 4 p.m. However, the most important event of the day will undoubtedly be the speech by Jerome Powell, head of the Fed, expected at the conference. 6 p.m.

Technical thresholds at monitor on EUR/USD

From a graphical point of view, the bearish trend of EUR/USD is still materialized by a descending line which has been stretching since the summer. last.

Currently located in Around 1.0570, this trendline is the first obstacle in the path of EUR/USD's rise, before the October 12 peak at 1.0570. 1.0640. Higher, the psychological threshold of 1.07, then the resistance of 1.0770 and above all the convergence of the 100 and 200 day MAs at Approximately 1.0820 will be the next significant hurdles.

If EUR/USD instead continues to fall, the 1.05 area and the marked annual low will continue to fall. around 1.0450 will be the first potential supports to count on.

EUR/USD remains under pressure in the face of geopolitical tensions, Powell's speech in sight  

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