Germany’s trade surplus data increased more than expected and the seasonally adjusted industrial production grew as well. The US nonfarm payrolls climed more than forecasted and the unemployment rate dropped.
The support rests at 1.17590 with resistance at 1.18220 which the weekly pivot point at 1.17990 is located in between the lines. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving below level 50, 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 support level breakthrough will confirm the correction pattern towards EMA of 100; otherwise EURUSD will continue its growth towards 1.18700.
