Euro continued to decline on Wednesday, and USD index rebounded to a one-year high. The market is waiting for the US Non-agricultural employment report to provide clues to the Fed's next policy action. Although the European Central Bank may welcome the low in the value of Euro, it is making European companies vulnerable to soaring energy prices. The European Central Bank is considering a new bond purchase plan to prevent the spread of bond market yields from widening when the emergency bond purchase plan expires next year.
From a technical perspective, Euro daily candle closed bearish with a new low. The bearish sentiment was extremely strong, and the indicators were all bearish. In H4 graph the candle formed bottom ladder, BOLL’s opening widened, MACD continued to run below the 0 axis. Overall, prioritise Sell within the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near near 1.1565.
Resistance：1.1565-1.1590-1.1640
Support：1.1530-1.1500-1.1450
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