In the Asian session on Monday, the USD index was stable, and Euro continued to fall. EURUSD is currently at the key point 1.1800. The European Central Bank decided last week to keep interest rates unchanged. ECB President Lagarde said that slowing down the asset purchases (PEPP) under the European Central Bank’s emergency plan for the epidemic is not the same as reducing the timetable for debt purchases, emphasizing that the European Central Bank is only re-adjusting the stimulus measures launched. While the Fed’s voice reduction of US Treasury purchases has eased, the recent trend of the USD has been more repetitive.
From a technical point of view, the price of Euro fell under pressure at the beginning of the week, continued to fluctuate at the end of the week, and the weekly line closed with a large bearish candle. The daily candle continues to fall, and the indicator is still neutral but slightly bearish. H4 shows a downward trend and all indicators show bearish signal. 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 1.1800.
Resistance：1.1820-1.1850-1.1880
Support：1.1780-1.1730-1.1700
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