FX.co ★ EUR/USD analysis for March 25 2021 - Sellers in control as we expected and potential for the downside movement towards 1.760

Fed's Powell: We are strongly committed to inflation that averages 2% over timeAs economy recovers and makes substantial progress towards Fed goals, we will roll back bond purchasesThe process will take place with the greatest transparencyLevel of debt today is not unsustainableSo far, nothing in there that he hasn't already said before. It doesn't look like the Fed will offer up more clues in the near-term until there is more clarity in the trajectory of economic data over the next few weeks/months.Further Development

Analyzing the current trading chart of EUR/USD, I found that sellers are in control and that there is potential for the bigger drop towards 1.1760 and 1.1620.Stochastic oscillator got the fresh new bear cross, which is sign that there is another wave of sellers on the market.....

Stil no evidence of any reversal yet....

Key Levels:Resistance: 1.1850Support levels: 1.1760 and 1.1620.