While Euro-Zone’s Industrial Production fell, the US initial jobless claims unexpectedly grew.
The support rests at 1.12570 with resistance at 1.12900 which the weekly pivot point at 1.12800 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is rising towards 50 level, 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 support level breakthrough will confirm the correction pattern towards 50 level of Fibonacci at 1.12310; otherwise, EURUSD will continue its bullish trend towards 1.13000.