Euro plummeted under pressure on Monday, and the U.S. dollar index set a record high in nearly 16 months to 95.60. The rise in U.S. bond yields suppressed risk appetite, and the dovish comments of European Central Bank policy officials sparks predictions that ECB is behind on anti-inflationary regulations.
From a technical perspective, Euro’s daily candle closed bearish. MACD showed bearish sign, and the indicators were bearish across the board. On H4 graph the moving average form Death Cross at a high position and BOLL is opening downward. RSI operates in a weak zone at around 20. Overall, prioritise SELL within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point is near 1.1390.
Resistance：1.1390-1.1420-1.1450
Support：1.1355-1.1320-1.1300
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