There was an unexpected decline in Euro-zone’s industrial production yesterday.
The support rests at 1.10540 with resistance at 1.11350 which both lines are above the weekly pivot point at 1.10120. The EMA of 10 is moving with bullish bias in the ascendant 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 upward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
The price growth may continue towards the resistance line but it would not be powerful enough to break it.