Being impacted by the ECB discussion about the rising rates ahead of the end of QE Economic Sentiment from ZEW in Germany, EUR was acting stronger against USD.
The support rests at 1.06260 with resistance at 1.06720 which the weekly pivot point at 1.06310 is located in between the lines. The EMA of 10 is moving with bearish bias along the descendant channel and it is above the EMA of 100 and 200. The RSI is falling towards the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals.
EURUSD will continue its downward trend targeting 61.8 level of Fibonacci at 1.60.

eurusd analysis