EUR/USD fell sharply on Friday, plummeting to fresh 10-week lows, after Federal Reserve chair Janet Yellen said it could be appropriate to raise short-term interest rates in the near future if incoming data in the coming weeks fulfills the expectations of the U.S. central bank.
The currency pair traded between 1.1111 and 1.1201, before settling at 1.1115, down 0.71% on the session. Since hitting nine-months in early-May.
EUR/USD has fallen considerably by nearly 3%. Despite the recent pullback, the euro is still up sharply against its American counterpart over the last 12 months.
Technical
Support at 1.1050 and resistance at 1.1250
Close above 1.1250 will take it to 1.1300-1.1320 , else could test its support level at 1.1050,
Further downside panic can be seen below 1.1050.
Trade with levels only.
More will update soon!!
