Public speech of Janet Yellen FED’s chair was on Friday. As it was expected huge volatility occurred at EURUSD. First the price broke resistance at 1.1320, afterwards a sharp decline occurred and support zone at 1.1240 – 1.1220 was broken. It was important support where lower limit of the bullish regression channel coincides with two supports. Declines stopped above another support 1.1170 and today the price has continued rebound.
Due to the breakout, EURUSD should continue declines. Currently, main scenario for the price is the return movement to 1.1220 and then rebound into direction 1.1170. It is likely that 1.1170 level will be broken. Then the price will continue declines. Next supports are located at: 1.1105, 1.1030, 1.0960.
