EUR is under pressure due to Presidential elections in France, Factory Orders in Germany and the possible Fed rate hike.
The support rests at 1.05520 with resistance at 1.05710 which both lines are below the weekly pivot point at 1.05810. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 100 and 200. The RSI is moving horizontally on the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. The ADX is showing weak buy signals.
Short positions are recommended targeting 1.0500.

eurusd analysis