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EURUSD : Test the 1.0150 suppression level
2022-07-17
1246
Fundamental analysis:
The euro fell against the dollar on Wednesday. Italian Prime Minister Draghi offered to resign, and the exchange rate fell to a new low of 0.9951 since early December 2002, but was then rejected by the country's president. Italy may need to hold early elections to overcome the political impasse, government officials said on Friday.
EURUSD daily chart
A brief technical analysis:
The daily chart shows that the exchange rate has stopped falling and rebounded after several days of weak operation. MACD is in the bearish area but the volume has begun to shrink. The RSI has risen slightly. It is expected that the short-term exchange rate will likely continue to rebound.
Long and short turning point: 1.0400
Suppression bit: 1.0600 1.0800
Support: 1.015 1.0000
Trading strategy: bearish below 1.0400, target 1.0150, 1.0000
Alternative strategy: bullish above 1.0400, target 1.0600, 1.0800
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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