Various geopolitical and market risks are putting USD under pressure. Yesterday, the ECB and Draghi’s announcement supported EUR.
The support rests at 1.22970 with resistance at 1.23470 which both lines are above the weekly pivot point at 1.22790. The EMA of 10 is moving with bullish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, 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.
Long positions are recommended towards 1.24.