On Thursday, Euro stabilized, maintaining a slow upward trend, and USD weakened as risk
sentiment improved. Investors were concerned about rising commodity prices and the possibility of global central banks raising interest rates to resist continued high inflation. The U.S. Beige Book hinted at the suppression of negative factors such as market uncertainty. The continued decline of the US dollar was the main reason supporting the rise of Euro. The CPI data that performed well in the Euro Zone during the period was also an important factor supporting the rise of Euro.
From a technical perspective, Euro’s daily graph forms six consecutive bullish candle. The market bulls have recovered, and the indicators have gradually turned from weak to neutral. In H4 graph shows and upward channel. MA form golden cross at bottom position, and the MACD volume strengthens. Overall, prioritise Buy within the fluctuation zone. Consider the support zone and resistance zone,the deciding point whether to buy or sell is near 1.1670.
Resistance：1.1670-1.1700-1.1730
Support：1.1625-1.1600-1.1570
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