The US preliminary Reuters/Michigan consumer sentiment index had a sudden growth in the previous reading.
The support rests at 1.09920 with resistance at 1.10460 which the weekly pivot point at 1.10140 is located in between the lines. 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 falling towards 50 level, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
While the bearish pressure remains, sellers can target 1.10000.
