EURUSD: low move down

The euro remained volatile near 1.08609 against the U.S. dollar. The trade account of the euro zone recorded a trade surplus in March, reflecting a sharp decline in energy imports from the country since the conflict between Russia and Ukraine. The euro zone recorded a trade surplus of 25.6 billion euros ($27.8 billion) in March, compared with a deficit of 20 billion euros a year earlier. In addition, exports increased by 7.5% year-on-year, while imports decreased by 10.0%. This marks a recovery in EU exports.

EURUSD—4-hour K-line chart shows:

Looking at the 4-hour chart: the low short-term narrow-range adjustment moves downward again, the short-term decline may continue, the market as a whole is in a short-term downward trend, the MACD indicator is in the short-term area to maintain consolidation, and the RSI indicator is in the short-term area.

Resistance levels: 1.08819 1.08972

Support levels: 1.08467 1.08341

Trading strategy: bearish below 1.08671, target 1.08467 1.08341

Alternative strategy: Bullish above 1.08671, target 1.08819 1.08972