EUR/USD: Powell strengthened dollar Current trend In the beginning of the week the pair was growing to the area of 1.1962 (Murray [4/8]), but was corrected and is now trading around 1.1880. USD strengthened after Powell’s statements before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate meeting. Today the Committee should make a decision upon the conformation of Fed’s head. Powell noted, that the regulator will maintain the increasing rates and reducing balance-sheets policy and support the employment market and stimulate the inflation. He also supported the banks activity on the stocks markets restriction laws, which will let US financial system be strengthened. Powell’s statement stimulated the growth of dollar, but it’s unclear, how significant will it be. Today the investors are focused on Trumps meeting with the US Senate Republican Party members, where he will try to persuade them to vote for the tax reform package, but earlier senators Ron Johnson and Bob Corker threatened to vote against the new laws. The result of the negotiations can bring the pair significant volatility. Support and resistance The price weakened below the level of 1.1900 (Murray [3/8]) and the middle line of Bollinger Bands and can be corrected to the levels of 1.1840 (Murray [2/8]) and 1.1780 (Murray [1/8]). The growth to the levels of 1.2023 (Murray [5/8]) and 1.2085 (Murray [6/8]) is possible after the breakout of the level of 1.1962 (Murray [4/8]). Resistance levels: 1.1900, 1.1962, 1.2023, 1.2085. Support levels: 1.1840, 1.1780, 1.1718. Trading tips Short positions can be opened at the current level with the targets at 1.1840, 1.1780 and stop loss at 1.1930. The consolidation of the price above the level of 1.1962 will make long positions with the targets at 1.2023, 1.2085 and stop loss at 1.1930 relevant.