Along with the disappointing economic data, the US Treasury Secretary Steven Mnuchin’s comments regarding Chinese currency put USD under pressure.
The support rests at 1.15150 with resistance at 1.15970 which the weekly pivot point at 1.15360 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is falling towards the 50 level, 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.
Considering EUR empowerment, EURUSD will most probably continue its bullish trend within Andrews’ Pitchfork towards 1.16.