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EURUSD: wide range
2023-04-20
962
Fundamental analysis:
The euro remained volatile near 1.09535 against the U.S. dollar. The current account of the euro zone recorded a seasonally adjusted 24.32 billion euros in February, the largest surplus since July 2021. Affected by the conflict between Russia and Ukraine, the current account of the euro zone fell for most of last year There was a deficit, and now, as the situation normalizes, the eurozone's current account is firmly in surplus again.
EURUSD—4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the market maintains a wide range of volatility in the short term, and the short-term short-term sentiment has weakened, but it still maintains signs of downward movement of the shock. The MACD indicator is hovering below the 0 axis, and the RSI indicator is below the 50 balance line.
Resistance levels: 1.09801 1.09965
Support levels: 1.09350 1.09200
Trading strategy: bearish below 1.09625, target 1.09350 1.09200
Alternative strategy: bullish above 1.09625, target 1.09801 1.09965
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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