EUR/USD remained volatile around 1.08098, European Central Bank Management Committee Centeno: The European Central Bank should remain cautious at its next meeting. Downside risks to the economy have become a reality. The transmission of ECB policy is intensifying. The ECB has been relying on data for guidance in its policy decisions. There is still a ton of data to be released before the September meeting. The ECB will decide on the direction of interest rates at its September meeting.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics are moving downward with low volatility, and the short-term decline may continue. The overall bearish sentiment in the market is shrouded, the MACD indicator is in the low-level order in the short-selling area, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance levels: 1.08296 1.08459
Support levels: 1.07960 1.07825
Trading strategy: bearish below 1.08157, target 1.07960 1.07825
Alternative strategy: Bullish above 1.08157, target 1.08296 1.08459