Markets reaction reflecting Yellen’s commentsYellen has said things for the dollar bulls and bears. She is in no way comfortable about inflation but also is wary about the Fed moving too gradually.
So the price has price has moved back and forth.
The last few seconds has seen the price move to NY session highs and back above the 1.1800 level. The next key area above comes in at the 1.18227-275 area. That was the low of the last 22 plus day trading range (broken earlier today). A move above that level would throw a monkey wrench in the bearish break lower today.
Before that level is the 50% of the days range at 1.18087 and then the 200 bar MA on the 5-minute at 1.18168.