On Thursday Asian session, Euro is under pressure and fell below the recent key support around 1.1700. USD strengthened due to the market's lingering concerns about the global economy, investors sought to hedge against USD before the minutes of the Federal Reserve meeting. Last night's meeting minutes, the Fed unexpectedly insisted on a hawkish stance, and for the first time since the pandemic, the Fed clearly discussed the issue of reducing debt purchases, which became the focus of the market chasing the Fed's July meeting minutes.
From a technical point of view, Euro continued fluctuation at low positions for a long time and fell quickly in early trading. The daily candle operates around the lower BOLL band, and the overall indicators are bearish. H4 graph shows bottom ladder, and the moving average forms Death Cross at a high level, which did not give the bulls a chance to breathe. 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 1.1700.
Resistance：1.1700-1.1760-1.1800
Support：1.1650-1.1620-1.1600
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