Last week EURUSD faced a 170-point decline. Based on the COT report, the overall interest in bullish trend has fallen. As the Federal Reserve reports indicate, the dollar bulls are not leaving yet.
The support rests at 1.18560 with resistance at 1.19030. 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 above the EMA of 100 and below the EMA of 200. The Stochastic is moving in low ranges, the RSI is moving in overbought area and the ADX is showing buy signal. The MACD indicator is in neutral territory.
EURUSD is trying to complete the correction pattern but needs strong data to overcome the resistance. Indicators are showing mixed signals. Buyers can expect 1.19300 but the support level breakthrough will drag the price down towards the lower Bollinger band at 1.17500.