EUR is under pressure due to the pandemic and this virus is going to leave a negative impact on European economy. EURUSD is trying to settle. While the good news over vaccine moved the market, the virus-free world is still far away which gives more support to USD.
EURUSD is moving close to the weekly pivot point at 1.17900 which it makes it more difficult to violate support and resistance lines at 1.17580 and 1.17970. The EMA of 10 is falling down and it is still above the EMA of 100 and 200. The Stochastic is moving in low ranges, the RSI is moving in oversold area and the MACD line is below the signal line in the negative territory. The ADX is not showing any firm signals.
If the support line is broken, the correction pattern can be expected towards level 61.8 of Fibonacci at 1.17250; otherwise, EURUSD will be fluctuating within the support and resistance lines.