As Jerome Powell’s testimony’s text was released on Tuesday, the US Dollar began its march of strength against the rest of the financial markets.
First target was reached upon the release of the testimony at 13:30 GMT, when the support line of the previously most dominant identified pattern on Dukascopy bank’s hourly charts was touched.
However, the decline did not end there. As the head of the Fed spoke, the EUR/USD declined down to teh levels near the 1.2220 mark.
In regards to the future, from a technical perspective all previously notable supports are broken, and the 1.2150 mark might be reached next.
