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EURUSD: Continued upward move

Fundamental analysis:

EUR/USD remained volatile around 1.06802 as troublesome inflation justified further rate hikes by the ECB, but terminal rates may be lower than previously seen. , the European Central Bank will continue to raise interest rates at the upcoming meeting, and there are downside risks to the current forecast peak interest rate of 4.00%.

EURUSD—4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum maintains the shock and continues to rise, the short-term bullish sentiment is shrouded, the bulls in the market are constantly rising, the MACD indicator is slowly moving up below the 0 axis, and the RSI indicator is finishing around the 50 balance line;

Resistance levels: 1.06933 1.07064

Support levels: 1.06589 1.06445

Trading strategy: Bullish above 1.06724, target 1.06933 1.07064
Alternative strategy: bearish below 1.06724, target 1.06589 1.06445

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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