USD started weakly on Monday, and the EURUSD was able to rush higher, reaching an intraday high of 1.1816, closing above 1.1800 for the first time in more than a week. The European Central Bank’s monetary policy meeting adjusted its forward-looking guidance on policy interest rates, emphasizing that the Euro Zone’s monetary policy will remain accommodative until the medium-term inflation level stabilizes at 2%. The European Central Bank reconfirmed its dovish stance, and all other statements are reserved for the September meeting.
From a technical point of view, Euro closed positive and stabilize on the 5-day and 10-day moving averages, while other indicators remained weak. H4 graph showed signs of bottoming, RSI is at around 50, and the MACD volume shrinks to around 0 axis, which is a positive signal for the bulls. Overall prioritise operation on the fluctuation zone. The deciding point whether to buy or sell is near 1.1750.
Resistance：1.1820-1.1850-1.1880
Support：1.1790-1.1750-1.1700
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