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EURUSD: Strong decline

Fundamental analysis:

EUR/USD remained volatile around 1.05759, and the European Central Bank will raise interest rates by 50 basis points as widely expected by the market. It would certainly consider raising interest rates by 25 basis points in order to ensure that policy does not fail, but this option is not expected to gain support.

EURUSD—4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum has fallen strongly, the short-term decline has not stopped, the market's short-term sentiment is low and volatile, the MACD index maintains shocks and falls to the lower side of the 0 axis, and the RSI index is weakly organized below the 50 balance line;

Resistance levels: 1.06023 1.06209

Support levels: 1.05603 1.15430

Trading strategy: bearish below 1.05855, target 1.05603 1.15430
Alternative strategy: Bullish above 1.05855, target 1.06023 1.06209

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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