Back
18 Mar 2015
EUR/USD capped by 1.0800
FXStreet (Edinburgh) - The shared currency briefly tested the 1.0800 handle vs. the US dollar on Wednesday, although EUR/USD returned to the mid-1.07s afterwards.
EUR/USD buoyant on Yellen’s presser
The pair manages to keep the trade above the 1.0700 mark so far, following the press conference by Chairwoman J.Yellen. Amongst the salient points, Yellen argued that the Fed could raise rates in any meeting after April, and that the decision will be data-dependent. She said that a stronger dollar translates into lower consumer prices for longer, and that the Fed will monitor inflation ‘carefully’. Yellen also added that the current downside pressure on prices is due to transitory factors.
EUR/USD key levels
As of writing the pair is gaining 1.81% at 1.0789 with the next hurdle at 1.0800 (high Mar.18) ahead of 1.0900 (psychological level). On the flip side, a breach of 1.0551 (low Mar.17) would target 1.0457 (2015 low Mar.16) en route to 1.0400 (psychological level).
EUR/USD buoyant on Yellen’s presser
The pair manages to keep the trade above the 1.0700 mark so far, following the press conference by Chairwoman J.Yellen. Amongst the salient points, Yellen argued that the Fed could raise rates in any meeting after April, and that the decision will be data-dependent. She said that a stronger dollar translates into lower consumer prices for longer, and that the Fed will monitor inflation ‘carefully’. Yellen also added that the current downside pressure on prices is due to transitory factors.
EUR/USD key levels
As of writing the pair is gaining 1.81% at 1.0789 with the next hurdle at 1.0800 (high Mar.18) ahead of 1.0900 (psychological level). On the flip side, a breach of 1.0551 (low Mar.17) would target 1.0457 (2015 low Mar.16) en route to 1.0400 (psychological level).