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EURUSD: hovering low

Fundamental analysis:

The euro remained volatile near 1.06829 against the U.S. dollar, and wage growth in the euro zone accelerated, making European Central Bank officials worried that the second-round effect may further push up inflation. There is currently little evidence of a wage-price spiral.

EURUSD—4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the low level maintained a short-term shock and moved up, and then began to linger, and the short-term decline may continue. The MACD indicator is weakly hovering below the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;

Long-short turning point: 1.06902

Suppression: 1.07167, 1.07416
Support: 1.06534, 1.06321

Trading strategy: bearish below 1.06902, target 1.06534, 1.06321
Alternative strategy: Bullish above 1.06902, target 1.07167, 1.07416

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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