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EUR/USD under pressure ahead of Yellen’s speech

EUR/USD pair turned lower from 1.1202 and now hovers around 1.1185 with eyes set on 1.1173 (23.6% of 1.0517-1.1376) levels. Stoxx 50 futures are up 0.30% in early trade, which indicates the equities across Europe are likely to open on a positive note and that is keeping the funding currency EUR under pressure.

Focus Yellen’s Speech.
Focus would remain on stock markets action, given the light economic calendar in Europe and US. Later in the NY session, traders would keep an eye on comments from Fed’s Yellen.

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