EUR has been empowered by the decline in the US bond yields data.
The support rests at 1.17810 with resistance at 1.18320. The weekly pivot point at 1.17540 is located below the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 100 and the EMA of 200. The Stochastic is moving in high ranges, the RSI is moving above level 50 and the ADX is not showing any clear signals. The MACD indicator is in positive territory.
The resistance level breakout will confirm the correction pattern towards 1.19000; otherwise the downward trend will resume.
