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EURUSD: highs move down
2023-06-20
728
Fundamental analysis:
EUR/USD remained oscillating around 1.09205, with the European Central Bank still believing that inflation has been "too high for too long" and with a possible rate hike in September, it faces the risk of tightening monetary policy too much.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum maintains shocks and moves down, the short-term decline may continue, the market bearish sentiment emerges, the MACD indicator is in the long zone and the shock moves down, and the RSI indicator is in the long zone to maintain consolidation;
Resistance levels: 1.09582 1.09805
Support levels: 1.08975 1.08752
Trading strategy: bearish below 1.09328, target 1.08975 1.08752
Alternative strategy: Bullish above 1.09328, target 1.09582 1.09805
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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