EUR has been supported by ECB optimistic forecast for inflation but USD has been under pressure due to weak PPI & news of China & US trade related talks.
The support rests at 1.16780 with resistance at 1.17140 which both lines are above the weekly pivot point at 1.15800. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing strong buy signal.
While considering pullbacks on the way, EURUSD may grow towards 1.175.
