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11 Feb 2014
Flash: EUR/USD easing from new highs - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that EUR/USD advanced up to 1.3682 early US session, pulling back some after the release of upcoming Yellen’s testimony, where she stated she will likely continue to cut bond buys in measured steps if data results as expected.
Key Quotes
“Acknowledging the recovery in the labor market is far from complete the new FED’s head added she is determinate to fulfill the dual mandate of full employment and controlled inflation. As expected she brought no news to the table, albeit dollar gathered some pace with the news, still quite limited to the upside against most rivals.”
“When it comes to the EUR/USD, the hourly chart shows current candle opened below its 20 SMA, while indicators turned south around their midlines, albeit short term buyers defend for now the 1.3650 area. In the 4 hours chart shows price well above moving averages, but indicators easing from overbought levels, pointing for a downward corrective movement that can extend down to 1.3620 without really affecting the dominant upward pressure.”
“Support levels: 1.3620 1.3590 1.3550. Resistance levels: 1.3670 1.3710 1.3745.”
Key Quotes
“Acknowledging the recovery in the labor market is far from complete the new FED’s head added she is determinate to fulfill the dual mandate of full employment and controlled inflation. As expected she brought no news to the table, albeit dollar gathered some pace with the news, still quite limited to the upside against most rivals.”
“When it comes to the EUR/USD, the hourly chart shows current candle opened below its 20 SMA, while indicators turned south around their midlines, albeit short term buyers defend for now the 1.3650 area. In the 4 hours chart shows price well above moving averages, but indicators easing from overbought levels, pointing for a downward corrective movement that can extend down to 1.3620 without really affecting the dominant upward pressure.”
“Support levels: 1.3620 1.3590 1.3550. Resistance levels: 1.3670 1.3710 1.3745.”