The growth of US inflation and Fed representatives’ comments put USD under pressure.
The support rests at 1.08310 with resistance at 1.08700 which the weekly pivot point at 1.08620 is located in between the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving above 50 level, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
For further growth, EUR needs to be supported by the economic data. The resistance level breakout will push the price up towards 1.09000; otherwise short positions are recommended towards 1.07500.