On Tuesday, Euro fell to a low of $1.2227 which is the lowest level in more than a week. The U.S. dollar index continue to strengthen. German industrial production data increased strongly in October, up 2.8% from the previous month. The economic confidence index of the Euro zone and Germany exceeded market expectations, providing support for Euro.
Technically, Euro’s daily candle closed bearish with extremely long lower shadow. MA converged, the trend is bearish. H4 graph shows that the daily graph continued to close by bullish candle, maintaining downward channel. MACD was weak, and RSI reversed upwards. Overall, prioritise operation within the fluctuation zone. Consider the support and resistance zones, The deciding point whether to buy or sell is near 1.1300.
Resistance：1.1300-1.1330-1.1350
Support：1.1270-1.1250-1.1220
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