Eurozone preliminary consumer price index grew but there was a decline in Germany’s retail sales report.
The support rests at 1.10760 with resistance at 1.10910 which both lines are above the weekly pivot point at 1.10610. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is moving on overbought area, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
The price has reached the upper Bollinger band and it might be time for price decline towards 1.10350.
