EURUSD traded higher Tuesday and Wednesday as the pair extends this week’s bull phase. Resistance at 1.1008, the Aug 5 high, has been cleared and this confirms a resumption of the uptrend. Sights are on 1.1084, the Dec 29 ‘23 high. Note moving average studies remain in a bull-mode set-up, highlighting a rising trend. Initial support to watch lies at 1.0901, the 20-day EMA.
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Fed Chair Powell at a Q&A with the Economic Club of Washington, D.C. strikes a predictably dovish-leaning message in light of recent data, repeating previous comments that the labor market is back to roughly where it was pre-pandemic; for inflation, in Q2 we had "3 better readings" following June's reports.