EUR/USD trades well below 1.1200, decline till 1.110 likely

• Major resistance-  1.1370.
   
• Major support – 1.1180 (55- day EMA).
  ​
• The pair has declined drastically on Friday after Fed chairman Janet Yellen said that there is a possibility of a rate hike in 2016.
   
• EUR/USD declined from the high of 1.13408 till 1.11805 on Friday and closed at 1.11927. The pair has broken 1.1180 today in the European session and declined till 1.11718.
   
• Any break below 1.1180 confirms minor weakness, a decline till 1.1108 (200- day MA)/1.100.
   
• On the higher side, any break above 1.1220 will take the pair till 1.130/1.1365.

It is good to sell on rallies around 1.1220 with SL around 1.1280 for the TP of 1.1100