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EURUSD: The rebound continues with short selling
2022-06-19
908
Fundamental analysis:
Westpac economists say EUR/USD is vulnerable right now, could test 1.0340-50 (last 7-year low) and slide towards 1.01, EUR/USD needs to get back above 1.0550 before lowering Current downside risks.
EURUSD 
daily chart
daily chartA brief technical analysis:
From the daily chart: the exchange rate is running between the middle and lower rails. Recently, there is a test of the middle rail. The Bollinger Band is showing an open trend. MACD is in the short-term area to maintain a weak order and slowly cross the 0 axis. It is expected that the short-term exchange rate will continue to decline.
Long and short turning point: 1.0800
Suppression bit: 1.0960 1.1140
Support levels: 1.0600 1.0360 1.0200
Trading strategy: bearish below 1.0800, target 1.0600, 1.0360, 1.0200
Alternative strategy: bullish above 1.0800, target 1.0960, 1.1140
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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