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11 Feb 2014
EUR/USD back to where it started
FXStreet (Córdoba) - The EUR/USD failed once again to break decisively above the 1.3680 zone and pulled back after sharply after the latest upside attempt, erasing almost completely intraday gains.
The EUR/USD wavered between daily lows (1.3629) and highs (1.3680) as Janet Yellen testified before the US Congress at her first official appearance as Fed chief. She highlighted taper path is not on a preset course and remains contingent to employment and inflation. However, the EUR/USD couldn't take fresh direction and remained trapped within today's range, currently trading at 1.3650, little changed since opening.
EUR/USD technical levels
In terms of technical levels, immediate resistances for EUR/USD line up at 1.3682 (Feb 11 high), 1.3700 (psychological level) and 1.3715 (Jan 27 high). On the other hand, supports are seen at 1.3629 (Feb 11 low), 1.3605/00 (100-day SMA/psychological level) and 1.3551 (Feb 7 low).
The EUR/USD wavered between daily lows (1.3629) and highs (1.3680) as Janet Yellen testified before the US Congress at her first official appearance as Fed chief. She highlighted taper path is not on a preset course and remains contingent to employment and inflation. However, the EUR/USD couldn't take fresh direction and remained trapped within today's range, currently trading at 1.3650, little changed since opening.
EUR/USD technical levels
In terms of technical levels, immediate resistances for EUR/USD line up at 1.3682 (Feb 11 high), 1.3700 (psychological level) and 1.3715 (Jan 27 high). On the other hand, supports are seen at 1.3629 (Feb 11 low), 1.3605/00 (100-day SMA/psychological level) and 1.3551 (Feb 7 low).