EUR is under pressure due to Germany’s seasonally adjusted factory orders.
The support rests at 1.12170 with resistance at 1.12350 which both lines are below the weekly pivot point at 1.12540. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA 100 and the EMA of 200. The RSI is moving on 50 level and the Stochastic is showing upward momentum. The MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
The indicators are showing mixed signals. EURUSD will be fluctuating within Bollinger bands, meanwhile buyers can target the upper band at 1.12500.
