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EUR/USD rises above 1.0800 after Yellen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - EUR/USD picked up momentum and advanced to fresh daily highs with the dollar weakening versus major competitors as Fed Chair Yellen made no comments on monetary policy during opening remarks in Washington.

    EUR/USD broke above the 1.0800 level and climbed to a peak of 1.0805 on a silent Yellen and with other FOMC members comments hitting the wires, but giving no unequivocal signs of a December lift-off. At time of writing, EUR/USD is trading at 1.0785, up 0.40% on the day.

    EUR/USD levels to watch

    As for technical levels, next resistances are seen at 1.0863 (10-day SMA) and 1.0896 (Nov 5 high) followed by 1.0966 (Nov 4 high). On the other hand, supports could be found at 1.0673 (Nov 10 low), 1.0660 (Apr 21 low), 1.0624 (Apr 16 low) and then 1.0570 (Apr 15 low).
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