Euro dropped below 1.18 on Wednesday night, its lowest level since early April. The main driver is the strengthening of the U.S. dollar. The ZEW Institute for Economic Research reported that investor confidence in Germany, the largest economy in the Euro Zone, fell sharply in July, but it remained at a high level. Another data showed that, affected by weak demand from countries outside the Euro Zone, orders for German-made goods experienced the largest drop in May since the first blockade in 2020, and Euro was under pressure. From a technical point of view, the daily candle of Euro closed bearish consecutively, and bearish sentiment gradually increased in the market. H4 graph shows unilateral decline and indicators show bearish signal. There is not much hope for the bulls. Overall, prioritise Sell on High on the fluctuation zone. The deciding point whether to buy or sell is near 1.1825.
Resistance：1.1825-1.1850-1.1880
Support：1.1780-1.1750-1.1700
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