EUR / USD is catching new demand, US UFE and Yellen before 1.1450
EUR / USD is catching new demand, US UFE and Yellen before 1.1450

The pair continues to be supported by the narrowing of the Fed and the ECB’s monetary policy, in response to Draghi’s shifting gear towards a more tightening stance and the less tightening stance of Fed officials. The 10-year US-German bond interest gap has been confirmed to have fallen to its lowest level since early November.

However, the upward trend in the EUR / USD parity failed to meet the strength, with the Yellen’s recent US session showing Wall Street stocks showing record highs, causing the negative currency on the euro to have a negative weight on the euro.

Attention is drawn to the fact that in the absence of any economic data to create a major market movement in the euro area, the final German Consumer Price Index (TFE) is recorded before the European opening, the Producer Price Index (UFE) and the unemployment applications data are more important. It is also expected that Fed speakers will speak, including Yellen’s statement in front of the Senate.
The EUR / USD pair is currently trading at 1.1447 with a gain of 0.31%.

Significant technical levels for EUR / USD
1.1378 / 80 region, 1.1345 / 50 region and 1.1310 / 15 region level support, resistance to 1.1440, 1.1485 / 90, 1.1500 (psychological level) and 1.1616 level parity.