Euro-Zone’s Industrial Production declined while Germany final consumer price index grew. Today investors will be watching GDP Growth Rate and Employment Change in Eurozone and the US Retail Sales.
The support rests at 1.11990 with resistance at 1.12150 which both lines are below the weekly pivot point at 1.12180. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and above the EMA of 100. The RSI is moving below 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 buy signal.
The support level breakthrough will push the price down towards 1.11800; otherwise EURUSD will return to 1.125 area.
