EUR was not strengthened enough and found strong resistance before reaching the weekly pivot point. Last week USD was empowered by the strong economic data which pushed the price down.
The support rests at 1.20250 with resistance at 1.20940. The weekly pivot point at 1.21260 is located above the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The Stochastic is moving in low ranges, the RSI is moving below level 50 and the ADX is showing weak sell signal. The MACD indicator is in positive territory.
As long as the bearish pressure remains, sellers can expect 1.20000.

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