EUR/USD little changed ahead of Jackson Hole

By FXstreet.com | Updated 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).



You May Also Like

Related Forex Analysis
  1. Investing

    EUR/USD: 2015 Forex Forecast

  2. Forex News

    Euro Flounders at Yearly Lows as Likelihood of ECB QE Increases

  3. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  4. Forex News

    US session recap: USD index and stocks rally for record highs

  5. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

Trading Center