EUR/USD hits 3-week highs after Yellen

EUR/USD jumped toward 1.1900 after the speech from Janet Yellen. The euro also rose against the pound while the US dollar tumbled across the board. 

Yellen spoke about the financial crisis and financial regulation. She did not talk about the latest economic reports and did not provide clues about the next steps of the Fed. The dollar plummeted and sent EUR/USD higher. 

The pair climbed from 1.1790 to 1.1884, reaching the highest level since August 3. The euro remains near daily highs holding a strong bullish tone and looking toward 1.1900. Now traders await Draghi’s speech, scheduled at 19:00 GMT. 

Technical levels 

To the upside, resistance levels might be located at 1.1890 (Aug 3 high), 1.1910 (Aug 2 high) and 1.1950. On the flip side, support now might lie at 1.1845 (Aug 11 high), 1.1810 (20-hour moving average) and 1.1770/75 (daily low).