Euro-zone’s industrial production rate declined more than expected.
The support rests at 1.08580 with resistance at 1.09100 which both lines are below the weekly pivot point at 1.09940. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The resistance level breakout may confirm the correction pattern towards 1.09500; otherwise EURUSD is falling down within the descendant channel towards 1.08000.