EURUSD: Consolidation moves up

EUR/USD remained volatile around 1.07965, and banks in the euro zone were fully prepared for adverse situations. Against a backdrop of (increased) uncertainty in the banking sector, decisions must be made with caution. Future monetary policy decisions will depend on how various sources of risk materialize, including those that have emerged recently in financial markets, with recent turbulence suggesting that banks need to be cautious. The ECB's decision will depend on three factors, including new economic and financial data and core inflation.

EURUSD—4-hour K-line chart shows:

Looking at the 4-hour chart: the bullish momentum remains volatile and upward, the market’s short-term bullish sentiment begins to emerge slowly, the MACD indicator is hovering above the 0 axis, and the RSI indicator is still on the side of the 50 balance line.

Resistance levels: 1.08195 1.08439

Support levels: 1.07582 1.07369

Trading strategy: Bullish above 1.07833, target 1.08195 1.08439

Alternative strategy: bearish below 1.07833, target 1.07582 1.07369