Yesterday GDP revised data in Eurozone came slightly better than expected along with ZEW Economic Sentiment data in Germany.
The support rests at 1.20490 with resistance at 1.21110. The weekly pivot point at 1.20960 is located in between the lines. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 100 and below the EMA of 200. The Stochastic is moving in low ranges, the RSI is moving in oversold area and the ADX is showing sell signal. The MACD indicator is in negative territory.
The support level breakthrough will confirm further decline towards 1.20000; otherwise EUR buyers may expect 1.21500.