Germany’s Consumer Price Index rose yesterday but today inflation data in the Eurozone may put EUR under pressure.
The support rests at 1.12940 with resistance at 1.13400 which both lines are above the weekly pivot point at 1.12650. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA 200 and the EMA of 100. The RSI is moving above 50 level and the Stochastic is showing upward momentum. The MACD line is on the signal line in the neutral territory. The ADX is showing buy signal.
The price is getting close to the upper Bollinger band and a break above that may push the price up towards 1.13700.