On Friday, Euro continued to be under pressure and broke through recent lows and is currently near 1.1825. The focus of the market is the US non-agricultural employment report in July. The rebound of the USD index which was led by the hawkish talks of Fed officials the day before has been temporarily slowed, and it is currently fluctuating at around 92.343. The Bank of England kept interest rates and bond purchases unchanged but warned that the inflation rate could soar to 4% in the short term.
From a technical point of view, Euro’s daily candle continued to drop and closed bearish. EURUSD is supported by the middle BOLL band, but its performance was relatively weak. H4 graph shows that Euro fell below the 120-day moving average. The downward momentum continues, and the indicators are bearish across the board, adding to the bearish sentiment. Overall, prioritize selling at high prices on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1850
Resistance：1.1850-1.1890-1.1910
Support：1.1800-1.1775-1.1750
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