On Wednesday, Euro fluctuates at around 1.1720 and the U.S. index dropped from a high position. EURUSD is currently trading at around 93.20. There is a strong wait and see sentiment before the Fed’s monetary policy, coupled with market speculation on whether China will bailout the Evergrande crisis, and the good economic data of the United States are all important factor in the weakening of Euro. The European Central Bank said: The Financial Times' report on the outlook for inflation and interest rates is inaccurate and that they may decide on the transition of the Emergency Anti-epidemic Bond Purchase Program (PEPP) in December.
From a technical point of view, Euro’s daily candle closed the doji consecutively, and the indicators were relatively weak. H4 graph shows formation of ladder bottom. EURUSD is under pressure form the 22-day moving average, and the indicators are bearish across the board. Overall prioritize Sell within the fluctuation zone while waiting for the guidance of the meeting. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1700.
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Resistance：1.1750-1.1780-1.1810
Support：1.1700-1.1680-1.1650
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