On Wednesday, Euro showed a rebound, hitting the lowest point of 1.1772 and closing at 1.1838. Powell's speech mentioned that inflation may remain high in the next few months, but it will gradually disappear. This, in turn, forced investors to lower their expectations that the Fed would tighten monetary policy earlier than expected. USD rose significantly against Euro as the unexpected high inflation data in the US encouraged speculation about the Fed's interest rate increase. From the technical point of view, Euro’s daily candle is closed bullish, but the overall downward trend has not changed. It is worth noting that BOLL shows signs of narrowing, which might indicate a change of market. In H4 graph, the near 1.1770 below becomes short-term support, and RSI shows bullish signs. Overall prioritise operation on the fluctuation zone. The deciding point whether to buy or sell is near 1.1800.
Resistance：1.1850-1.1880-1.1900
Support：1.1800-1.1770-1.1700
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