While Euro-zone’s preliminary consumer price inflation is remaining flat, the final manufacturing PMI has dropped to its lowest rate.
The support rests at 1.08930 with resistance at 1.09430 which both lines are below the weekly pivot point at 1.09570. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving on 50 level, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing sell signal.
While the bearish pressure remains, sellers can target 1.08800.