Yesterday despite the forecasted increase, ZEW Economic Sentiment fell and in contrast EURUSD grew. The reason might be behind the decline in the US government bond yields.
The support rests at 1.19450 with resistance at 1.19780. The weekly pivot point at 1.18550 is located below the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is on EMA of 200 and above the EMA of 100. The Stochastic is moving in high ranges, the RSI is moving in overbought area and the ADX is showing buy signal. The MACD indicator is in positive territory.
To compete the correction pattern EURUSD must hit 61.8 of Fibonacci at 1.20300.
