10 Jul 2015
EUR/USD back below 1.1200 ahead of Fed Yellen speech
FXStreet (Córdoba) - EUR/USD is pulling back ahead of Janet Yellen speech and as Greek legislators debate the new proposals. The pair failed to hold above 1.1200 and currently it trades at 1.1170, still more than a hundred pips above yesterday’s closing price.
Earlier the euro peaked at 1.1217, hitting levels last seen back it June 30. It started to rise during the Asian session and then accelerated as the US dollar declined against European currencies.
EUR/USD levels to watch
The pair has been unable to make a significant close above 1.1200 so far; if is able to do it, it could rise further. The next resistance lies at 1.1230 (June 24, 25 high) and above at 1.1280 (June 29 high).
To the downside the key short term support lies at 1.1130; until yesterday the mentioned level acted as a resistance and now has become a support. The hourly 20-SMA currently stands at 1.1115/20 adding importance to the 1.1120/30 support area.
Earlier the euro peaked at 1.1217, hitting levels last seen back it June 30. It started to rise during the Asian session and then accelerated as the US dollar declined against European currencies.
EUR/USD levels to watch
The pair has been unable to make a significant close above 1.1200 so far; if is able to do it, it could rise further. The next resistance lies at 1.1230 (June 24, 25 high) and above at 1.1280 (June 29 high).
To the downside the key short term support lies at 1.1130; until yesterday the mentioned level acted as a resistance and now has become a support. The hourly 20-SMA currently stands at 1.1115/20 adding importance to the 1.1120/30 support area.