Market Analysis of EURUSD on Wednesday, June 23, 2021

2021-06-23 14:45Source:BtcDana

EURUSD


In the US market on Tuesday (June 23), due to the improvement in market sentiment, EURUSD rose to a new one-week high of 1.1952. The U.S. stock index continued Monday's rebound momentum, hovering near record highs, while government bond yields remained sluggish. Due to the dovish tendencies of the European Central Bank, market sentiment is bearish, and European Central Bank President Lagarde further strengthened this tendency. He mentioned that the European Central Bank still has room to cut interest rates if necessary. From a technical perspective, Euro’s daily candle continued to rebound under the support of 1.1850. Yesterday EURUSD tested the resistance level at 1.1955 but failedn, which also shows the lack of rebound momentum. There is a chance that H4 will show signs of strengthening, but 1.2000 is a strong resistance to breakthrough short-term. Overall prioritise operation on the fluctuation zone. The deciding point whether to buy or sell is near 1.2000. 

https://asset.ycxfy.com/upload/file/1624377600000/1624433782637.png

Resistance:1.1955-1.2000-1.2050

Support:1.1900-1.1880-1.1850


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