The early trading on Friday, Euro hit a new low of $1.1438 since July last year, and the dollar rose by 95.25. As the U.S. consumer price inflation report is higher than expected, the U.S. bond yields, and inflation expectations have soared which suppress the weakening of Euro.
From a technical perspective, Euro’s daily graph continuously closed bearish and broke through the lower BOLL band. The market is dominated by bearish sentiment, and the indicators weakened across the board. On H4 graph shows that the daily candle is bearish for 10 consecutive days, the RSI indicator is around 28 which is a strong bearish sign. Overall, prioritise SELL within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point is near 1.1480.
Resistance：1.1460-1.1480-1.1500
Support：1.1400-1.1380-1.1350
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