The Euro Zone CPI report for May increased less than expected but the Core CPI grew more than expected.
The support rests at 1.10850 with resistance at 1.11540 which both lines are above the weekly pivot point at 1.10410. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is showing upward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
The bulls are trying to push the price towards the upper Bollinger band at 1.11700.
