EUR/USD: Yellen sets off a rally in the greenback, down -0.55% on the day at 1.0646

Currently, EUR/USD is trading at 1.0646, down -0.55% on the day, having posted a daily high at 1.0716 and low at 1.0645.

Fed's Yellen expects rates to be close to longer-run neutral rate of 3 pct by end of 2019

We have seen an uptick in the DXY and dollar all around despite treasuries at session lows down by 20 ticks despite Yellen's speech being a little on the hawkish side. We are back on a dollar friendly environment, with spot gold falling to session lows as well.  We have the ECB this week, tomorrow, and Draghi's presser. 

ECB Preview: confident Draghi to boost the EUR

Spot is presently trading at 1.0647, and next resistance can be seen at 1.0674 (Daily Classic PP), 1.0682 (Hourly 20 EMA), 1.0705 (Daily Open), 1.0705 (Monthly High) and 1.0705 (Weekly High). Support below can be found at 1.0646 (Hourly 100 SMA), 1.0645 (Daily Low), 1.0628 (Daily Classic S1), 1.0607 (Hourly 200 SMA) and 1.0597 (Yesterday's Low).