The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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EUR/USD has extended its daily rebound toward 1.0950 in the early American session on Wednesday. The US Dollar Index, which reached its highest level in nearly two years at 99.75 earlier, fell into negative territory below 99.50 as investors wait for the Fed to release the minutes of the March policy meeting.
EUR/USD is trading in the 1.0920 price zone, posting modest intraday gains. However, the risk is skewed to the downside, according to technical readings. In the daily chart, the pair remains well below all of its moving averages, with the 20 SMA gaining bearish strength at around the 1.1000 figure and below the longer ones. Technical indicators hold within negative levels, partially losing their bearish strength but without signs of downward exhaustion.
The 4-hour chart shows that technical indicators have corrected extreme oversold readings but turned flat within negative levels afterwards, indicating absent buying interest. Meanwhile, the 20 SMA maintains a firmly bearish slope below the longer ones, capping the upside a few pips above a Fibonacci resistance level at around 1.0965.
Support levels: 1.0870 1.0830 1.0805
Resistance levels: 1.0965 1.1020 1.1070
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
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