EUR/USD retreats from highs, back around 1.1170

The shared currency kept the composure following the press conference by Chief J.Yellen, taking EUR/USD to the 1.1170/80 band for the time being.

EUR/USD weaker on Yellen

The pair keeps its volatile performance today in response to J.Yellen’s press conference. Yellen reiterated the good health of the US labour market although she noted that slack in the market still persists, emphasizing at the same time that the economy maintains its moderate pace of recovery.

Regarding inflation, Yellen expects the economy to meet the 2% goal in the next periods, reiterating June’s views.

EUR/USD levels to watch

The pair is now gaining 0.18% at 1.1171 facing the next hurdle at 1.1216 (high Sep.20) followed by 1.1283 (resistance line off 2016 high) and finally 1.1329 (high Sep.8). On the flip side, a breakdown of 1.1121 (low Aug.31) would target 1.1043 (low Aug.5) en route to 1.0950 (low Jul.25).