While Euro-zone’s investor confidence index reached its lowest rate, EUR is moving strongly against USD.
The support rests at 1.09570 with resistance at 1.10170 which both lines are above the weekly pivot point at 1.09520. The EMA of 10 is moving horizontally in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving above 50 level, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing buy signal.
The indicators are showing mixed signals. Long term traders can expect the bullish trend within Andrew’s Pitchfork targeting 1.1047, meanwhile the support level breakthrough may push the price down towards 1.09200.
