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EURUSD: wide range
2023-06-13
787
Fundamental analysis:
The euro remained volatile around 1.07575 against the U.S. dollar, supported by hawkish expectations from the European Central Bank, which is expected to raise interest rates by at least two 25 basis points this year; the European Central Bank said it would borrow 102 million euros using the overnight lending facility and deposit 418.073 billion euros.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: short-term wide fluctuations, the overall long-short dynamics of the market are in the process of consolidation, the MACD index is in the long-term region and the RSI index is hovering weakly on the side of the 50 balance line;
Resistance levels: 1.07702 1.07845
Support levels: 1.07363 1.07235
Trading strategy: Bullish above 1.07524, target 1.07702 1.07845
Alternative strategy: bearish below 1.07524, target 1.07363 1.07235
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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