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EURUSD: high move up

Fundamental analysis:

With EUR/USD trading around 0.07323, the ECB may now remain more open to options on the future path of interest rates and hopes that the next decision in May will be made in a less tense market environment.

EURUSD—4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the momentum of the high-level bulls continues to fluctuate and move upwards, the short-term bullish sentiment is shrouded, the market bulls continue to move, the MACD indicator is hovering at a high level in the bullish area, and the RSI indicator is in a weak order on the side of the 50 balance line;

Resistance levels: 1.07441 1.07583

Support levels: 1.07145 1.07015

Trading strategy: Bullish above 1.07270, target 1.07441 1.07583
Alternative strategy: bearish below 1.07270, target 1.07145 1.07015

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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