EU’s industrial production data supported EUR yesterday. Based on COT reports, traders are bullish on EURUSD.
The support rests at 1.21320 with resistance at 1.21830. The weekly pivot point at 1.21130 is located below 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 Stochastic is moving in middle ranges, the RSI is moving above level 50 and the ADX is showing weak buy signal. The MACD indicator is in neutral territory.
EURUSD is moving in a tight range within the Bollinger bands. While fluctuating within the support and resistance lines, long term traders can expect 1.22000.