Fed boss comment trips stops in EUR/USD below 1.1125

As already mentioned the markets were a little surprised by the comments from the Fed boss last night, as he seemed to walk back on the idea of the Fed rushing to cut rates sooner rather than later. That sent the dollar higher across the board and pushed the EUR/USD down below a previously noted double bottom on the daily charts. To be honest the warning signs were there already, as earlier in the day the Euro ran into sellers above 1.12 again and stalled short of that 2024 high at 1.1214. This was noted earlier in the session, as the Euro fell back. So, the further drop after the US close sent the EUR/USD down to a low at 1.1114 and there is no doubt here; that stops were removed below 1.1125. The EUR/USD later set a monthly close in the US at 1.1135. The range seen so far today has been covered by 1.1127 to 1.1143. The could be some major action later today with important US data due out at 2pm GMT, but more on that in due course. The Euro is just now trading at 1.1140