Yesterday retail sales data supported USD and push the price down towards 1.17 area.
The support rests at 1.17720 with resistance at 1.18350 which the weekly pivot point at 1.17920 is located in between the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is above the EMA of 200 and below the EMA of 100. The RSI is moving on the 50 level, the Stochastic is moving in low ranges and the MACD line is on the signal line in the neutral territory. The ADX is not showing any clear signals.
Short positions are recommended towards 1.16 area, buyers can enter the market when the price reaches 1.19.

eurusd analysis