Euro-zone’s final consumer confidence index declined and the tensions in Middle East ease. Traders await the US Unemployment Claims and FOMC Member talks.
The support rests at 1.10840 with resistance at 1.11260 which both lines are below the weekly pivot point at 1.11860. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and below the EMA of 100. The RSI is moving in oversold area, the Stochastic is showing upward momentum and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The price may fall towards the lower Bollinger band at 1.10900 but the price growth will start soon.