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EURUSD: wide range
2023-04-30
792
Fundamental analysis:
EUR/USD remained volatile around 1.10167 as the French economy rebounded in early 2023, dispelling concerns that a strike on pension reform would weigh on economic activity and boosting belief that Europe can continue to avoid recession.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: short-term wide fluctuations, although the market bulls are waiting for an opportunity to rise, but the overall high-level shorts are suppressing the strength, the MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance levels: 1.10457 1.10671
Support levels: 1.09989 1.09819
Trading strategy: bearish below 1.10263, target 1.09989 1.09819
Alternative strategy: Bullish above 1.10263, target 1.10457 1.10671
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