25 Feb 2015
EUR/USD trades around a flatline above 1.1340
FXStreet (Mumbai) - EUR/USD edged slightly higher to fresh session highs in the early European morning, extending its choppy trend from Asian session amid a broadly weaker US dollar as traders continue to digest Fed Yellen’s comments.
EUR/USD faces stiff resistance at 5-DMA
The EUR/USD now trades higher by 0.11% near fresh highs at 1.1354 levels, having previously posted fresh session lows at 1.1340 levels. EUR/USD continues to trade in a tight range amid lack of fresh triggers on a data-light European session as traders now shift their attention towards testimonies by Fed Yellen before the House Financial Services Committee and by ECB Draghi for further momentum.
EUR/USD reversed previous losses and inched higher during US last session after the greenback turned red on Yellen’s testimony. Yellen said the word "patient" when it came to normalizing policy and that the Fed will change its forward guidance before rising interest rates.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1371 (10-DMA) levels, above which gains could be extended to 1.1400 levels. On the flip side, support is seen at 1.1300 levels, below which it could extend losses to 1.1278 levels.
EUR/USD faces stiff resistance at 5-DMA
The EUR/USD now trades higher by 0.11% near fresh highs at 1.1354 levels, having previously posted fresh session lows at 1.1340 levels. EUR/USD continues to trade in a tight range amid lack of fresh triggers on a data-light European session as traders now shift their attention towards testimonies by Fed Yellen before the House Financial Services Committee and by ECB Draghi for further momentum.
EUR/USD reversed previous losses and inched higher during US last session after the greenback turned red on Yellen’s testimony. Yellen said the word "patient" when it came to normalizing policy and that the Fed will change its forward guidance before rising interest rates.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1371 (10-DMA) levels, above which gains could be extended to 1.1400 levels. On the flip side, support is seen at 1.1300 levels, below which it could extend losses to 1.1278 levels.