In Friday's Asian session, the rebound in the US dollar kept Euro under pressure, and currently the EURUSD is around 1.1800. Powell told Congress that as the economy has not recovered, withdrawing monetary policy support is still a long way off. The European Central Bank also said that it does not want to scale back its debt purchases before the time is right, as Europe is still dealing with the delta mutation virus variant, data that has mixed effects and slow recovery problems. From a technical point of view, the EURUSD candle fluctuates and undergoes corrects repeatedly. The 4 hours chart shows that EURUSD tried to break through the 20-day moving average but failed and then formed a perfect downward channel. EURUSD continues to operate below the middle BOLL band and the RSI indicator remains unchanged. Overall prioritize operations within the fluctuation zone. The graph below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 1.1825.
Resistance：1.1825-1.1850-1.1880
Support：1.1790-1.1770-1.1700
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