Despite the bullish pattern that EURUSD is forming, data on new jobs in the non-agricultural sector of the United States may support USD today and resume the bearish trend.
The support rests at 1.20720 with resistance at 1.20990. The weekly pivot point at 1.21260 is located above the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The Stochastic is moving in high ranges, the RSI is moving on level 50 and the ADX is not showing any clear signals. The MACD indicator is in positive territory.
The resistance level breakout will confirm the correction pattern towards level 61.8 of Fibonacci at 1.21450; otherwise sellers can expect 1.20250.