USD is being supported by the Fed’s monetary policy and Retail Sales MoM will be published in Eurozone today.
The support rests at 1.16160 with resistance at 1.16540 which the weekly pivot point at 1.16440 is located in between the lines. 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 rising towards the 50 level, the Stochastic is showing upward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing a sharp decline.
EURUSD might continue its decline to break the support line and target 1.158.