In the US trade on Monday, as the market continues to expect the Fed to announce a reduction next month, the US dollar index rose to 94.34, suppressing Euro to close at 1.1553. European Central Bank Lien said: The European Central Bank is in a readjustment mode, and the conditions for debt reduction are far from being met. The European Central Bank's discussion of debt reduction should be an adjustment to its scale. The European Commission will review the joint purchase of natural gas by EU countries as an option to cope with soaring energy prices.
From a technical perspective, Euro’s daily candle closed bearish yesterday with an upper shadow. EURUSD has fallen back to the recent support zone and continued to show a downwards trend. In H4 graph, BOLL narrowed, and the middle BOLL band flattened, indicating that the probability of market change increases. MACD operates below the zero axis. Overall, prioritise operation within the fluctuation zone, Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1530.
Resistance：1.1590-1.1610-1.1640
Support：1.1530-1.1500-1.1450
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