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EURUSD : Dropped after rising pressure
2022-09-14
1139
Fundamental analysis:
The dollar rebounded sharply against the yen, euro and other currencies on Tuesday after stronger-than-expected U.S. inflation data boosted investor bets that the Federal Reserve will need to continue aggressive rate hikes.
EURUSD EURUSD daily chart
A brief technical analysis:
From the daily chart: the short-term exchange rate has rebounded and then plummeted. MACD is running below the 0-axis and the volume is slightly under the 0-axis. The RSI has begun to decline. It is expected that the short-term exchange rate will likely fall further.
Long and short turning point: 1.0150
Suppression bit: 1.0400 1.0600
Support level: 0.9950 0.9800
Trading strategy: bearish below 1.0150, target 0.9950, 0.9800
Alternative strategy: bullish above 1.0150, target 1.0400, 1.0600
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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