On Tuesday, Euro continued to fall under pressure and fell to near the previous low of 1.1668. Following the rise in U.S. Treasury yields, USD soared to a high position in more than 10 months, as investors expected the Fed to reduce asset purchases in November and may raise interest rates later. Fed Chairman Powell and U.S. Treasury Secretary Yellen attended the hearings of the U.S. Senate Banking, Housing and Urban Affairs Committee, explaining how their institutions deal with the impact of the epidemic on the economy.
From a technical perspective, Euro’s daily candle closes bearish with the upper and lower shadow. The support below 1.1660 is effective. Be careful when chasing Sell on low positions. The H4 graph shows that the upper and lower BOLL band are slightly narrowed, MACD operates below the zero axis. Overall, prioritise operation within the fluctuation zone. Traders can consider opening Sell position if there is a breakthrough. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1680.
Resistance：1.1710-1.1750-1.1780
Support：1.1660-1.1630-1.1600
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