EUR/USD in 'wait mode' ahead of Yellen

By FXstreet.com | July 14, 2014 AAA

FXStreet (Bali) - EUR/USD is trading at 1.3620, unchanged since the NY close, having posted a daily high at 1.3623 and low at 1.3618.



The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. At the time of writing, RSI is neutral at 51.81, down from 54.80 at the last hour close, while ADX is ranging at 19.65, up from 11.88 previous. Meanwhile, daily RSI is in neutral territory at 46.72. On the hourly EUR/USD chart, the 200 SMA is declining and currently at 1.3609, down from the previous hour close at 1.3615.



Looking ahead, as Jim Langlands, Founder at FXCharts, notes: "The markets are now all pretty much on hold for Janet Yellen’s testimony to Congress later today, where the Q&A session will test her on when rates may rise given the recent upturn in the US economic numbers. Ahead of Yellen, the EU/German ZEW Economic Sentiment Survey and the US Retail Sales may provide some minor waves, but the focus will be on Yellen."



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