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25 Feb 2015
EURUSD disregards Yellen's speech
FXStreet (Córdoba) - The dollar edged slightly lower but remained broadly unchanged as Yellen second day of testimony failed to provide more clarity about the Federal Reserve policy outlook.
Fed’s Chair Janet Yellen repeated yesterday’s introductory statement which signals timing of a rate hike is and will remain data dependent.
EUR/USD climbed a few pips after the statement but remained well-within its recent range. At time of writing, the pair is trading at 1.1355, 0.15% above its opening price, having hit an hourly high of 1.1365.
European Central Bank President Draghi is scheduled to speak in front of the Committee on Economic and Monetary Affairs of the European Parliament at 17:15 GMT, although there is no much expectations regarding the speech.
EUR/USD technical levels
If EUR/USD breaks above 1.1387 (daily high), next resistances could be found at 1.1394/1.1400 (Feb 20 high/psychological level) and 1.1429 (Feb 20 high). On the flip, supports are seen at 1.1335 (daily low), 1.1300 (psychological level) and 1.1278 (Feb 20 low).
Fed’s Chair Janet Yellen repeated yesterday’s introductory statement which signals timing of a rate hike is and will remain data dependent.
EUR/USD climbed a few pips after the statement but remained well-within its recent range. At time of writing, the pair is trading at 1.1355, 0.15% above its opening price, having hit an hourly high of 1.1365.
European Central Bank President Draghi is scheduled to speak in front of the Committee on Economic and Monetary Affairs of the European Parliament at 17:15 GMT, although there is no much expectations regarding the speech.
EUR/USD technical levels
If EUR/USD breaks above 1.1387 (daily high), next resistances could be found at 1.1394/1.1400 (Feb 20 high/psychological level) and 1.1429 (Feb 20 high). On the flip, supports are seen at 1.1335 (daily low), 1.1300 (psychological level) and 1.1278 (Feb 20 low).