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10 Feb 2014
EUR/USD boring around 1.3640
FXStreet (Edinburgh) - The EUR/USD is now slipping back from previous highs beyond 1.3650, hovering over the 1.3640/45 region.
EUR/USD eyes on Yellen’s testimony
The euro docket will be empty on Tuesday, however the main event will be Chairwoman Yellen’s testimony. In the opinion of BBH Global Currency Strategy Team, “She has helped shape Fed policy and was on board with the tapering and forward guidance. She cannot be expected to deviate from the Fed’s general economic assessment or the path Bernanke outlined in December. The key message will be one of continuity not innovation”.
EUR/USD levels to consider
The pair is now advancing 0.01% at 1.3641 and a breakout of 1.3651 (high Feb.10) would target 1.3666 (high Jan.30) en route to 1.3685 (high Jan.29). On the downside, the next support lines up at 1.3610 (low Feb.10) ahead of 1.3595 (daily cloud base) and then 1.3581 (10-d MA).
EUR/USD eyes on Yellen’s testimony
The euro docket will be empty on Tuesday, however the main event will be Chairwoman Yellen’s testimony. In the opinion of BBH Global Currency Strategy Team, “She has helped shape Fed policy and was on board with the tapering and forward guidance. She cannot be expected to deviate from the Fed’s general economic assessment or the path Bernanke outlined in December. The key message will be one of continuity not innovation”.
EUR/USD levels to consider
The pair is now advancing 0.01% at 1.3641 and a breakout of 1.3651 (high Feb.10) would target 1.3666 (high Jan.30) en route to 1.3685 (high Jan.29). On the downside, the next support lines up at 1.3610 (low Feb.10) ahead of 1.3595 (daily cloud base) and then 1.3581 (10-d MA).