EURUSD is fluctuating around the weekly pivot point. The EU summit starts today. EU is trying to recover from the catastrophic impact of the pandemic.
The support rests at 1.20450 with resistance at 1.21050. The weekly pivot point at 1.20740 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 Stochastic is moving in low ranges, the RSI is moving on level 50 and the ADX is showing buy signal. The MACD indicator is in negative territory.
The resistance level breakout will confirm the next bullish target at 1.22000; otherwise sellers can expect 1.20000.
