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EURUSD: Bears fall

Fundamental analysis:

The EURUSD remained volatile around 1.08431. European Central Bank Executive Committee member Schnabel said potential price pressures remain high. Economic activity has slowed markedly. The outlook for economic growth was weaker than expected in June.

Euro USD EURUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum fluctuated and fell rapidly, the short-term decline may continue, the market's short sentiment remains, the MACD indicator is in the long area and is consolidating near the 0 axis, and the RSI indicator is hovering weakly below the 50 equilibrium line;

Resistance levels: 1.08684 1.08833

Support levels: 1.08283 1.08139

Trading strategy: bearish below 1.08513, target 1.08283 1.08139
Alternative strategy: bullish above 1.08513, target 1.08684 1.08833

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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