EUR/USD strengthens to near 1.1150 ahead of Fed’s Powell speech

AUD/USD regains upside traction and rises toward 0.6850 in Thursday's Asian trades. China's new stimulus measures, encouraging RBA Financial Stability Review and risk recovery support the Aussie ahead of Powell's speech. 

The pair's next downward target is the September low of 1.1001 (September 11), which is bolstered by the temporary 55-day SMA, and comes ahead of the weekly low of 1.0881 (August 8). The critical 200-day SMA is at 1.0872, prior to the weekly low of 1.0777 (August 1) and the June low of 1.0666 Meanwhile, the pair's rising trend is expected to continue as long as it is above the important 200-day SMA.The four-hour chart shows a revival of the bearish bias. The initial resistance level is 1.1214, followed by 1.1275. On the other hand, initial contention aligns at 1.1121, followed by 1.1083, and 1.1068. The relative strength index (RSI) collapsed below 47.