On Wednesday, Euro rose for the first time in seven days, rising 0.22% to $1.1740, unaffected by the third consecutive month of decline in German investor confidence. The U.S. CPI inflation data suggests that the economic recovery is peaking, prompting the dollar index to decline from a 4-month high. US consumer prices rose moderately in July, which slightly eased the Fed's need to begin to reduce the schedule for debt purchases.
From a technical point of view, Euro's daily candle dropped to 1.1700 and then rose and closed bullish. It is currently under pressure near the previous low of 1.1760, and the overall structure is still weak. In H4 graph, the candle operates above the middle BOLL band. The moving averages converges at the bottom position, indicating that Euro has the opportunity to continue to test its highs in the short term. Overall prioritize operate on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1760.
Resistance：1.1770-1.1800-1.1830
Support：1.1720-1.1700-1.1650
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