The further downward probing of the midday currency price is partly due to the escalation of risk aversion caused by the international situation, and partly related to the increasing dovish voices within the Federal Reserve.

Federal Reserve officials are once again taking a dovish stance. Raphael Bostic, President of the Federal Reserve Bank of Atlanta, stated: "I believe we do not need to raise interest rates anymore, but if the outlook changes, further rate hikes may be necessary."

Of course, there are also different opinions. Neel Kashkari, President of the Federal Reserve Bank of Minneapolis and a traditional hawkish representative, stated: "If the economy shows more resilience or if further rate hikes become necessary, potential yield increases may mean that the Fed has to reduce its actions. However, if this is the market's expectation of the Fed's actions, then we will stick to it until it is realized."

From a structural perspective, the sideways movement belongs to a flag-shaped consolidation, and there is a possibility of a short-term rebound to 27,600.

From an indicator perspective, the daily chart level MACD fast and slow line has crossed, and it has risen above the 27,000 level. These are all signs that the currency price may continue to rise.

It seems that the bearish trend is not friendly at the moment, but from a different perspective, probing lower levels allows for entry at a lower position, and the potential profit from future rises will be greater.

On a larger time frame, the current market is still within an upward channel, and the support of the lower rail continues to move up. The longer it takes, the greater the probability of an upward trend.

From a time perspective, the advantage also lies on the bullish side.

In terms of strategy, focus on the short-term support at 27,000-26,950 during the day, and there is a chance of a rebound if it is not broken. If resistance is encountered in the 27,400-27,600 range, a breakthrough would indicate a bullish trend, otherwise, wait for an opportunity to enter the market for a short position and observe the retracement.

Market conditions change rapidly, and the content is for communication and sharing purposes only, and should not be used as the basis for actual trading operations. Thank you for your attention.

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