Chairman Powell is likely to reiterate that the U.S. economy is in a ‘good place’ as the Federal Open Market Committee (FOMC) embarks on its hiking-cycle, and the central bank head may prepare U.S. lawmakers for a less accommodative stance as ‘gradually returning interest rates to a more normal level as the economy strengthens is the best way the Fed can help sustain an environment in which American households and businesses can thrive’. With short-term technical indicators gradually moving into bullish territory, a sustained move beyond the 1.1745-50 immediate supply zone is likely to get extended towards the 1.1800 handle en-route the ascending trend-channel resistance, currently near the 1.1820-25 region. On the flip side, the 1.1700 round figure mark now seems to act as an immediate support and is followed by 1.1670 horizontal level. Any subsequent weakness below the mentioned support seems more likely to be limited and should find support near the ascending trend-channel, currently near the 1.1630 region.