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EUR/USD working it’s way up from the lows on Yellen

FXStreet (Guatemala) - EUR/USD is trading at 1.2943, having posted a daily high at 1.2982 and low at 1.2897.

With Yellen taking the stage now in her press conference, the pair has moved back into line after an initial drop to test the 1.29 handle. The pair is now trading in a 30 pip range towards the mod point of the handle. The Fed decision was to keep rates on hold and reducing their asset purchasing programme to $10B from $15B. Yellen has explained that inflation has firmed some since the start of the year and she see’s it moving towards their target of 2%. Indeed rates will be increased in line with the performance of the economy and delivery targets in respect of inflation and maximum employment.

EUR/USD levels

With spot trading at 1.2923, we can see next resistance ahead at 1.2923 (Hourly 100 SMA), 1.2953 (Hourly 20 EMA), 1.2959 (Daily Classic PP), 1.2960 (Daily Open) and 1.2964 (Weekly High). Support below can be found at 1.2917, 1.2900, and 1.2895.

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