Extends narrow range on Yellen comments
The EURUSD was in a narrow 50 pip trading range before Yellen comments/PPI. The range has extended to 64 pips now but this is well short of the 22 day average range of 130 pips. It suggests there is room for more extension. PPI was a higher than expected. Yellen reiterated her expectations to raise rates in 2015 on the expectation the economy would pick up in the 2nd half of the year. Of course the liftoff is one thing. The pace is more important. The story remains the same.
Forex technical analysis: EURUSD sits tight, but trying the downside
