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EURUSD: low consolidation

Fundamental analysis:

The EURUSD remained volatile around 1.06973. The market expects the European Central Bank to keep interest rates unchanged on September 14, but less than half of analysts expect to raise interest rates again this year to reduce inflation.

Euro USD EURUSD - 4-hour K-line chart shows:

Brief technical analysis:

4-hour chart: The market is shrouded in bearish sentiment. Although the short-term decline has weakened and slowed down, the overall decline remains the same. The MACD indicator is in the short area and maintains consolidation, and the RSI indicator is oscillating below the 50 equilibrium line;

Resistance level: 1.07170 1.07296

Support level: 1.06834 1.06721

Trading strategy: Bearish below 1.07024, target 1.06834 1.06721
Alternative strategy: bullish above 1.07024, target 1.07170 1.07296

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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