The EUR/USD pair remains under selling pressure this Monday.
Recent remarks from Powell on "60 Minutes" have removed any uncertainty about interest rate cuts in March, with the Fed Chair indicating it's too soon for a rate cut in the next meeting.
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EUR/USD 1 hour time frame chart. Source: xStation 5
Additionally, the USD index analysis shows the bullish trend is still intact, as the technical target for the inverted head and shoulders pattern hasn't been hit, and the price has surpassed the upper boundary of the prior consolidation zone.
USD index. 4 hours time frame chart. Source: xStation 5
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