Quotes from Nordea Markets:
-EUR/USD was trading in a narrow range before Yellen's testimony, in a consolidating triangle which risks breaking out any time - the downside would bring us to new lows (below 1.1098), while the break up would suggest a likely move above 1.1670 (50-day moving average).
-The upside move will likely be sharper and larger due to positioning. The narrow range continued after Yellen's testimony, and we're currently at 1.135. But have no fear, today sees another testimony which may affect the EUR - Draghi's to the European Parliament.
