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EURUSD: Bears down
2023-06-11
763
Fundamental analysis:
EUR/USD remained volatile around 1.07492, and the European Central Bank will raise the deposit rate by 25 basis points to 3.50% on June 15. Markets expect the ECB to raise the deposit rate to 3.75% in July.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: short-term dynamics fluctuate downward, the market is shrouded in short-term sentiment, and there is a trend of continuing to move downward in the short-term. The MACD indicator is in the long-term area to maintain consolidation, and the RSI indicator is hovering above the 50 balance line;
Resistance levels: 1.07702 1.07845
Support levels: 1.07363 1.07235
Trading strategy: bearish below 1.07567, target 1.07363 1.07235
Alternative strategy: Bullish above 1.07567, target 1.07702 1.07845
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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