Market volatility was too low yesterday. Italy’s retail sales data releases today but it is not going to influence the chart much.
The support rests at 1.21180 with resistance at 1.21810. The weekly pivot point at 1.22550 is located above the lines. The EMA of 10 is moving with bearish bias in the long term ascendant channel and it is above the EMA of 200 and below the EMA of 100. The Stochastic is moving in low ranges, the RSI is moving in oversold area and the ADX is showing weak sell signal. The MACD indicator is in negative territory.
The resistance level breakout will confirm the bullish trend towards 1.22500; otherwise EURUSD will continue its decline targeting 1.20800.