EURUSD: Hawkish Fed Pressure Breaks the 1.1655 FloorEuro / U.S. DollarFOREXCOM:EURUSDProfessorSingaporeThe news background is currently working in favor of the U.S. dollar and against EURUSD. The move is mainly driven by a stronger dollar after Kevin Warsh’s Jackson Hole speech. His message was clearly not dovish: inflation remains the Fed’s main concern, financial conditions are not very restrictive, and the U.S. labor market and consumer spending are still resilient. That makes it harder for the market to price in an easy dovish pivot from the Fed. For EURUSD, this is a bearish mix. If U.S. yields and DXY stay firm, the euro may continue to struggle. Technically, EURUSD is under heavy pressure after a sharp breakdown on the H1 chart. The pair is now trading near 1.1600, after losing the key 1.1650–1.1655 support area. The pair has broken below the SMA 200 near 1.1655, as well as EMA 9, EMA 20 and SMA 50. This confirms that short-term momentum has turned bearish. The former support zone around 1.1630–1.1655 now becomes the main retest area. RSI is deeply oversold near 27, so a short-term bounce is possible. But oversold does not mean bullish. It only means sellers may need a pause before the next move. MACD remains negative, confirming that bearish pressure is still active. The next key support is 1.1573. As long as EURUSD stays below 1.1630–1.1655, rebounds look more like retests than a real bullish reversal. Key idea: EURUSD has lost its main H1 support, and bulls need to reclaim 1.1655 before the chart can turn constructive again. ⚠️ Not financial advice.