the Federal Reserve announcement will be announced soon. EURUSD will be volatile in the coming days due to the jobs number being released on Friday.
The support rests at 1.16300 with resistance at 1.16850 which the weekly pivot point at 1.16770 is located in between the lines. The EMA of 10 is moving with bearish bias in the horizontal channel and it has crossed the EMA of 100, they are both above the EMA of 200. The RSI is falling towards the oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing strong sell signal.
The support level breakthrough will smooth the way for further decline towards 1.15; otherwise the price will grow towards the upper Bollinger band.
