In Asian trading on Tuesday, US dollar index maintained its increase and returned to 94, while Euro fluctuated around 1.1590. IMF President George Ava said: The growing economy has laid a good foundation for Europe to avoid another sovereign debt crisis. The impact of the Eurozone data is getting weaker, and the foreign exchange market depends more on the trend of the US dollar. The focus of the Eurozone today is the August PPI data and the speech by European Central Bank President Lagarde.
From a technical perspective, Euro daily candle closed bearish. After a slight rebound, the market returned to a bearish situation. There were strong resistances from above and the indicators were bearish across the board. In H4 graph, BOLL was flat, MACD was below the zero axis, the moving average converges and fluctuates. Overall, prioritise Sell within the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1610.
Resistance：1.1610-1.1640-1.1670
Support：1.1580-1.1560-1.1500
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