EUR is getting empowered by the German economy and today Retail Sales, Capacity Utilization and Industrial Production data will be released in the US.
The support rests at 1.10110 with resistance at 1.10350 which both lines are below the weekly pivot point at 1.10710. The EMA of 10 is moving with bullish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving on 50 level, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
The resistance level breakout will confirm the correction pattern targeting 61.8 level of Fibonacci at 1.11100; otherwise, EURUSD will be falling towards 1.09900.
