On Wednesday Asian market, US dollar index remained stable and is now at round 90.55 while Euro continued to fluctuate at around 1.2120. The focus is at the Fed’s monetary policy decision that will be announced on this trading day. The Fed may discuss reduction in the purchase of obligation, which is good for US Dollar but will be bad for Euro. According to data, inflation rate in Euro remains high. Germany’s inflation rate in May is 2.5%, another positive increase for 5 consecutive months, and is currently at its highest value since September 2011. From a technical point of view, after the opening of market this week, EURUSD faces correction for 2 consecutive days, and daily candle is closed slightly bullish. Indicator is neutral and slightly bearish. H4 graph shows that the interval is at 1.2145-1.200, indicator tends to be bearish. Overall open your position in the small fluctuation interval. For evening’s trading, look at the Fed’s data. The deciding point whether to buy or sell is near 1.2100.
Resistance：1.2145-1.2170-1.2200
Support：1.2100-1.2050-1.2000
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