EUR is under pressure due to disappointing economic data from Germany and dovish outlook in ECB’s economic bulletin.
The support rests at 1.13130 with resistance at 1.13330 which both lines are below the weekly pivot point at 1.13680. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA 100 and the EMA of 200. The RSI is moving in oversold area and the Stochastic is moving in low ranges. The MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The bears will be controlling the chart pushing the price down towards the lower Bollinger band at 1.1300.
