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EURUSD: high down
2023-04-02
910
Fundamental analysis:
The euro remained volatile near 1.08551 against the U.S. dollar. Kazaks, the European Central Bank's management committee, said that borrowing costs still need to rise to cope with the high growth in consumer prices. More recently, the ECB's task of getting inflation back to 2% has been complicated by financial turmoil that started in the US and spread to Switzerland.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum continued to fluctuate and rise to near the previous high, and then retreated in the short-term.
Resistance levels: 1.08895 1.09130
Support levels: 1.08329 1.08108
Trading strategy: bearish below 1.08651, target 1.08329 1.08108
Alternative strategy: bullish above 1.08651, target 1.08895 1.09130
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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