USD index fell to 92.82 on Wednesday, and Euro rose to close at 1.1772. The US 10-year Treasury bond yield climbed to around 1.35%, the highest level in the past two weeks. European Treasury bond yields rose after the European Central Bank said that the central bank is expected to increase economic growth expectations. The dilemma of the global epidemic situation caused by the delta virus strain and the waning of vaccine optimism causes a cautious market sentiment before the Jackson Hole seminar.
From a technical point of view, Euro’s daily graph shows 4 positive bullish candle, and a short-term rebound is established. EURUSD is currently under pressure at MA22, the overall market is still bearish. H4 graph shows that, the candle fluctuates around the MA120 resistance. In short term, MA forms golden cross and MACD shows signs of strengthening. Overall prioritize operate on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1775.
Resistance：1.1775-1.1800-1.1840
Support：1.1740-1.1700-1.1660
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