Today, all eyes around the globe are riveted to the Yellen's speech. The Euro drifted to an 11 month's low against the US dollar. The pair held support at the 61.8 fib level (1.2756-1.399), traders are waiting for the today's event. On the down side, it has support at 1.3105 (September 2013 low) and 1.30 (80.0 fib level). On the higher side, it has resistance at 1.3364-1.3370. A daily close is above the 1.3370; the pair will favor a relief rally. At the current market juncture, a break below 1.3230 happened again. So, bears will attack again to make a new low at 1.32 and 1.3160 immediately.
Resistance 1.3290 1.3364 1.3370
Support 1.3240 1.32 1.3160
In today's session, the pair was unable to breach yesterday's high. In the h4 chart, the pair is unable to sustain above 12ema. It is better to buy until the h4 candle closes above the 12ema. If it manages to close above 12ema, only then it can fly up to 1.33 and 1.3333 initially.
Risky traders sell with sl 1.33.
The material has been provided by InstaForex Company - www.instaforex.com
