EUR/USD little changed ahead of Jackson Hole

By FXstreet.com | August 22, 2014 AAA

FXStreet (Córdoba) - The EUR/USD edged a tad lower at the beginning of the American session, although the slide lacked strength as the recovery did as all attention turns to Janet Yellen speech in Jackson Hole.



Fed Chair is expected to speak at 14:00 GMT and investors will be looking for any signals about the Federal Reserve first rate hike. Meanwhile the EUR/USD has been confined to a narrow range in cautious markets ahead of not only Yellen's but also Draghi’s speech.



The EUR/USD recovery attempt was capped ahead of the 1.3300 level, with the subsequent pullback extending to a low of 1.3257 in recent dealings. At time of writing, the pair is trading at 1.3270, little changed since opening.



EUR/USD technical levels



In terms of technical levels, the EUR/USD could find immediate supports at 1.3242 (2014 low Aug 21), 1.3230 (Sep 10 2013 low) and 1.3200 (psychological level). On the other hand, resistances are seen at 1.3300 (psychological level), 1.3323 (Aug 20 high) and 1.3336 (10-day SMA).



comments powered by Disqus
Related Forex Analysis
  1. Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...
    Forex News

    Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...

  2. Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends
    Forex News

    Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends

  3. US Session recap: USD consolidation ahead of FOMC
    Forex News

    US Session recap: USD consolidation ahead of FOMC

  4. A market in a technical snap-shot - RBS
    Forex News

    A market in a technical snap-shot - RBS

  5. EZ gave mixed data at key timings - BBH
    Forex News

    EZ gave mixed data at key timings - BBH

Trading Center