19 Nov 2013
EUR/USD rises further after Yellen words
FXstreet.com (Córdoba) - The EUR/USD took another step higher and printed a fresh 2-week high after Fed chair nominee Yellen reiterated the unemployment threshold is not a trigger.
In a letter to a Senator, Yellen said she expects policy to remain highly accommodative even after any rate hike threshold has been reached. The EUR/USD stretched to a marginal new high of 1.3546 (1.3542 previous) and it was last up 0.3% at the 1.3540 zone.
EUR/USD briefing
The EUR/USD has had a wild session Tuesday amid comments from ECB and Fed members, not to mention news that China's central bank could widen its yuan trading band. The EUR/USD fell to a low of 1.3487, only to shrug-off dovish Constancio comments and reach fresh highs most recently.
EUR/USD levels to watch
In terms of technical levels, a decisive break above 1.3546 could send the EUR/USD to 1.3565 (20-day SMA) and then to 1.3600 (psychological level). On the other hand, supports are now seen at 1.3487 (daily low) and 1.3459 (10-day SMA).
In a letter to a Senator, Yellen said she expects policy to remain highly accommodative even after any rate hike threshold has been reached. The EUR/USD stretched to a marginal new high of 1.3546 (1.3542 previous) and it was last up 0.3% at the 1.3540 zone.
EUR/USD briefing
The EUR/USD has had a wild session Tuesday amid comments from ECB and Fed members, not to mention news that China's central bank could widen its yuan trading band. The EUR/USD fell to a low of 1.3487, only to shrug-off dovish Constancio comments and reach fresh highs most recently.
EUR/USD levels to watch
In terms of technical levels, a decisive break above 1.3546 could send the EUR/USD to 1.3565 (20-day SMA) and then to 1.3600 (psychological level). On the other hand, supports are now seen at 1.3487 (daily low) and 1.3459 (10-day SMA).