EUR/USD Uplifted

The EUR/USD is trading higher thanks to the FED statements made yesterday by Chair Janet Yellen. In a meeting in the Economic Club of New York she spoke about the strengths of the US economy, the risks and uncertainties in the current economical state. She made remarks that the key to raising rates is "gradualism". 

In turn, markets participants read those signals as bearish for the US dollar and the pair surged to 1.1250 while the meeting was still happening. Today the EUR/USD continued its uptrend and reached as high as 1.1309. 

The pair is now faced with its first challenge - going above 1.1330 as this is the immediate resistance. On the other hand, a correction might be expected that would take the pair back to 1.1160. 

Chart: EUR/USD D1