On Monday, Euro bottomed and rebounded. The bearish covering supported Euro. The weakening of the U.S. index was an important factor supporting Euro's rebound. However, the weak economic data in the Eurozone and the market's hawkish expectations of the Fed's decision limit the room for the exchange rate to rebound.
From a technical perspective, Euro's daily candle closed bearish after small bullish candle. EURUSD is under pressure below the middle BOLL band and MA10 and rebounded weakly. H4 graph shows that EURUSD undergo correction on base position. If it manages to stabilise around MA60, then there is an opportunity. The indicators show bearish signs. Overall, prioritise Sell within the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1620.
Resistance：1.1620-1.1660-1.1690
Support：1.1570-1.1550-1.1520
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