EURUSD: Bulls move up

The euro remained volatile around 1.08425 against the U.S. dollar. As the market's broad focus on the central bank shifted to interest rate cuts, the European Central Bank raised interest rates by 50 basis points in March to remind the market: European interest rates will not turn around at present; unless the banking industry deteriorates significantly and credit conditions are excessively tightened Otherwise, the ECB's interest rate may reach a high of 3.75%, or a maximum of 4.0%.

EURUSD—4-hour K-line chart shows:

Looking at the 4-hour chart: the momentum of the bulls continues to move up, and short-term bullish sentiment begins to emerge. The bulls in the market have no signs of stopping in the short term. The MACD indicator is hovering above the 0 axis, and the RSI indicator is finishing above the 50 balance line;

Resistance levels: 1.08674 1.08926

Support levels: 1.08061 1.07802

Trading strategy: Bullish above 1.08305, target 1.08674 1.08926

Alternative strategy: bearish below 1.05305, target 1.08061 1.07802