USD tried to gain momentum after the previous decline due to poor economic data.
The support rests at 1.08160 with resistance at 1.08730 which both lines are below the weekly pivot point at 1.09760. 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 in 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 sell signal.
EURUSD has already reached 61.8 level of Fibonacci and it’s time for buyers to retrun to the market and target 1.09400.
