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25 Sep 2015
EUR/USD falls below 1.1200 after Yellen remarks
FXStreet (Córdoba) - EUR/USD dropped more than 60 pips and dipped back below the 1.12 mark as the dollar received a boost after Federal Reserve Chair reaffirmed its intention to raise rates this year.
Speaking at the Philip Gamble Memorial Lecture, University of Massachusetts, Janet Yellen said she expects a rate hike later in 2015 based on expectations of continued falling unemployment and fading economic headwinds.
EUR/USD fell to a low of 1.1172 and continues to trade near lows to enter the Asian session on the defensive.
EUR/USD technical levels
In terms of technical levels, on the downside supports are seen at 1.1164 (Sep 24 low), 1.1145 (100-day SMA) and 1.1104 (Sep 23 low). On the flip side, resistances could be found at 1.1300 (psychological level), 1.1329 (Sep 21 high) and 1.1372 (Sep 14 high).
Speaking at the Philip Gamble Memorial Lecture, University of Massachusetts, Janet Yellen said she expects a rate hike later in 2015 based on expectations of continued falling unemployment and fading economic headwinds.
EUR/USD fell to a low of 1.1172 and continues to trade near lows to enter the Asian session on the defensive.
EUR/USD technical levels
In terms of technical levels, on the downside supports are seen at 1.1164 (Sep 24 low), 1.1145 (100-day SMA) and 1.1104 (Sep 23 low). On the flip side, resistances could be found at 1.1300 (psychological level), 1.1329 (Sep 21 high) and 1.1372 (Sep 14 high).