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The dollar rallied across the board yesterday, after Yellen's introductory speech at Humphrey Hawkins was released. She didn't say anything particularly new but was a bit more hawkish than the market had expected.
EUR/USD broke below 50 DMA and traded to as low as 1.0560. Since topping out near 1.0830 at the start of the month, the pair fell in eight out of ten days. Big figure at 1.05 is the next target while 50 DMA and 1.06 should now act as resistance.
EUR/USD broke below 50 DMA and traded to as low as 1.0560. Since topping out near 1.0830 at the start of the month, the pair fell in eight out of ten days. Big figure at 1.05 is the next target while 50 DMA and 1.06 should now act as resistance.