EUR/USD Daily Update: Bull run continues for second day.

EURUSD has continued its bull run for the second day, after breaking out of a bullish wedge pattern and reaching near a horizontal support zone.

From a technical standpoint, the higher highs on the daily chart suggest that an uptrend is forming.

Yesterday's dovish testimony by Fed's Powell put selling pressure on the greenback as markets place a higher possibility for a rate cut.

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