The US PPI data will be released today and if it comes out strong, there will be more pressure on EURUSD.
The support rests at 1.19070 with resistance at 1.19840 which both lines are below the weekly pivot point at 1.20380. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving below the 50 level, the Stochastic is showing downward momentum and the MACD line is on the signal line in the neutral territory. The ADX is not showing any clear signals.
The indicators are not showing any strong signals therefore the price might be consolidating within the Bollinger bands.
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