EUR started its decline yesterday and today there is no sign of price growth. EURUSD is massively under the economic reports in the US and Eurozone.
The support rests at 1.20600 with resistance at 1.20990. The weekly pivot point at 1.21260 is located above the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and above the EMA of 200. The Stochastic is showing upward momentum, the RSI is moving in oversold area and the ADX is showing sell signal. The MACD indicator is in negative territory.
The bearish pressure may push the price down towards 1.19980 on the other hand, the price has reached the lower Bollinger band and there might be a strong support.