US retail sales data came better than expected and support USD. Along with the retail sales data, the other reports such as unemployment benefits and industrial production came in favor of USD.
The support rests at 1.19420 with resistance at 1.19810. The weekly pivot point at 1.18550 is located below the lines. The EMA of 10 is moving horizontally in the ascendant channel and it is above EMA of 200 and the EMA of 100. The Stochastic is moving in low ranges, the RSI is rising towards overbought area and the ADX is showing buy signal. The MACD indicator is in negative territory.
The support level breakthrough will pave the way for further decline towards 1.18500.
