EUR/USD & Yellen's Speech: Where are the Euro's bulls?
Today at 14:00 GMT will speak the Fed's Chairwoman Janet Yellen, which is one of two speeches that she'll hold during this week. Yellen is expected to talk about interest rates' strategy by the central bank and it can bring some volatility to the markets in today's early American session. It's worth noting that the markets are still digesting the US presidential debate, but the effect should last for the short-term only (this week at least).
Our technical picture for EUR/USD at H4 chart is showing a solid support at the 1.1196 level, where the bulls are trying to push higher in order to validate the dynamic bottom offered by the 200 SMA. If that happens and Yellen remains with her rhetoric, then it could test the resistance level of 1.1262 once again, while a slightly hawkish's speech can produce a lower breakout below the 1.1196 level, with the nearest target placed at the 1.1147 zone.