USD fell on Monday and Non-US currencies in global stock markets rose. As the epidemic intensified, investors’ concerns about the Federal Reserve’s stance on loose monetary policy soon began to ease. In areas with low levels of vaccination in the United States, there has been an increase in new cases caused by delta variants. The Eurozone composite PMI rose in August, despite concerns that the covid-19 outbreak could trigger a re-imposition of lockdown measures, slowing the pace of expansion.
From a technical point of view, Euro’s daily candle closed bullish, and tried to increase to 1.1750 but met resistance, and the downward trend remained unchanged. H4 graph showed that EURUSD forms double bottom structure and is under the pressure from upper BOLL band. MACD gradually moves closer to the 0 axis. Overall prioritize buying at low prices on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1750
Resistance：1.1750-1.1770-1.1800
Support：1.1720-1.1700-1.1660
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