EUR is being supported due to strong Producer Price Index in the Eurozone.
The support rests at 1.06590 with resistance at 1.06850 which both lines are below the weekly pivot point at 1.07350. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is falling towards the oversold area, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The ADX is showing a weak sell signal.
Short positions are recommended targeting 78.6 level of Fibonacci at 1.060.

eurusd analysis