EUR/USD moves slightly off 14-year low

EUR/USD managed to recover from fresh 14-year lows and trimmed some of its recent losses as the dollar takes a breather following steep gains.

The dollar strengthened across the board on Tuesday, helped by upbeat comments from Federal Reserve Chair Janet Yellen on the US labor market and some risk aversion after Turkey, Germany, and Switzerland were hit by terrorist strikes yesterday. There were no major data releases today, leaving trading mostly driven by sentiment.

EUR/USD bottomed out at 1.0351, level last seen in January 2003, but recovered a few pips from there to currently trade around 1.0378, still down 0.21% on the day.

EUR/USD levels to consider

In terms of technical levels, next supports could be found at 1.0351 (2016 low, Dec 20), 1.0334 (Jan 2003 low) and 1.0300 (psychological level). On the flip side, short-term resistances are seen 1.0479 (Dec 19 high), 1.0500 (psychological level), 1.0535 (10-day SMA).