EUR/USD unable to set direction, confined to a range

EUR/USD continues to oscillate within familiar ranges, unable to set a longer-term directional moves, as investors await Fed Chair Yellen speech later today.

EUR/USD advanced to a daily high of 1.0479 as the dollar corrected lower, but then fell to a low of 1.0410 before finding support. The pair has been confined to a narrow range over the last hours, and it was last at 1.0443, virtually unchanged since opening.

Fed Chair Yellen is due to speak on The State of the Job Market at 18:30 GMT today. Meanwhile, some risk aversion arose in markets after reports Russian ambassador in Turkey has died after receiving gunshots in Ankara.

EUR/USD levels to watch

In terms of technical levels, next supports could be found at 1.0365 (2016 low, Dec 14), 1.0334 (Jan 2003 low) and 1.0300 (psychological level). On the flip side, short-term resistances are seen 1.0500 (psychological level and former support level), 1.0572 (10-day SMA) and 1.0669 (Dec 14 high).