The US dollar continued its yesterday decline after a failed attempt to recover. And looking to the week we may have a downtrend. The momentum seems week with a downward trending RSI and a weak MACD.
The support rests at 1.21120 with resistance at 1.21340 which the price is moving above the Pivot Point at 1.21250 located between the lines. The EMA of 10 is moving in bullish bias and it is above EMA of 100 and the EMA of 200. The RSI is going to move above level of 50, the MACD histogram is in negative territory and the Stochastic is moving in low ranges. The ADX is not showing a clear signal.
• There is resistance at 1.21340, followed by resistance at 1.21470 and 1.21560.
• There is support at 1.21120 Below, there is 1.21030 and 1.20900.
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