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USD Rose to Highest Level in 3 Weeks as Yellen Testifies

by on July 16, 2014 6:19 pm BST
 

The U.S. dollar rose to the highest level in more than three weeks versus a basket of peers as Federal Reserve Chair Janet Yellen addressed lawmakers for a second day on the state of the U.S. economy.

The dollar reached the strongest in a month versus the euro as wholesale prices in the U.S. rose more than forecast. New Zealand’s dollar slumped the most in seven weeks after inflation accelerated slower than expected and a gauge of dairy prices dropped to its lowest since 2012. Australia’s currency fell after the two-year note yield dropped to the lowest since September. South Korea’s won slid to the weakest since April.

The greenback gained 0.3 percent to $1.3530 per euro after reaching $1.3526, the most since June 16. The euro slid 0.3 percent to 137.59 yen. The U.S currency was little changed at 101.69 yen after touching 101.79, the strongest since July 9.

EURUSD

Pivot Woodie Fibonacci
Resistance 3 1.3678 1.367 1.3653
Resistance 2 1.3653 1.3649 1.3628
Resistance 1 1.3612 1.3604 1.3612
Pivot 1.3587 1.3583 1.3587
Support 1 1.3546 1.3538 1.3562
Support 2 1.3521 1.3517 1.3546
Support 3 1.348 1.3472 1.3521