The retail sales data in the Eurozone put EUR under pressure. EUR needs promising economic reports along with disappointing US reports to recover from the recent fall.
The support rests at 1.19380 with resistance at 1.19860. The weekly pivot point at 1.21260 is located above the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and above the EMA of 200. The Stochastic is moving in low ranges, the RSI is moving in oversold area and the ADX is showing sell signal. The MACD indicator is in negative territory.
While the indicators are showing downward pressure within Andrew’s Pitchfork, it is risky to sell. The support level breakout will confirm the bearish scenario targeting 1.19000; otherwise some consolidation can be expected.