While EUR was empowered by the strong Balance of Trade data from Germany, USD went under pressure due to poor Consumer Credit Change.
The support rests at 1.15770 with resistance at 1.16640 which the weekly pivot point at 1.16250 is located in between 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 RSI is moving above the 50 level, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
It seems that the correction pattern has already started. EURUSD may continue its growth towards 61.8 level of Fibonacci at 1.167.
