Last week, the European Central Bank issued an announcement saying that in accordance with the new EU legislation that will take effect on June 26, systemic investment companies must apply for a banking license and accept supervision like banks. The EU extends sanctions on Russia, and Russia will take countermeasures. Federal Reserve Chairman Powell’s dovish remarks, coupled with the cooling of investors’ concerns about US inflation causes the US dollar to be under pressure. From a technical point of view, EURUSD’s weekly candle is closed a little bullish. The daily candle is also a little bullish with an upper shadow. The pressure from the top remains, and the market rebound is weak. H4 graph shows the formation of M pattern and BOLL continue to narrow. MACD operates around the 0 axis. Overall prioritise Sell on the fluctuation zone. Consider the support and resistance zones, the deciding point whether to buy or sell is near 1.1960.
Resistance：1.1960-1.2000-1.2050
Support：1.1920-1.1890-1.1850
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