EUR/USD oscillated around 1.08480 as the European Union proposed an overhaul of its customs framework that would introduce a data-driven system to simplify procedures for traders. The European Commission's proposals would simplify reporting requirements for traders, including reducing the time needed to complete the import process, providing a single EU interface and promoting data reuse.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum remains low and continues to move downward, the short-term decline may continue, the market as a whole is in the short-term downward movement, the MACD indicator is in the short-selling area and the RSI indicator is in the short-selling area and remains hovering;
Resistance levels: 1.08670 1.08819
Support levels: 1.08221 1.08083
Trading strategy: bearish below 1.08480, target 1.08221 1.08083
Alternative strategy: bullish above 1.08480, target 1.08670 1.08819