EURUSD is under the influence of inflation rate and the unemployment rate in Eurozone and the Fed monetary policy in the US.
The support rests at 1.05010 with resistance at 1.05280 which both lines are below the weekly pivot point at 1.05610. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 100 and 200. The RSI is falling towards the oversold area, the Stochastic is showing upward momentum but the MACD indicator is in negative territory. The ADX is not showing any clear signals.
Short positions are recommended targeting 1.0500 area.

eurusd analysis