USD has been supported by the economic data and today NY Empire State Manufacturing Index will be released and there will be ECB President Draghi Speech.
The support rests at 1.12010 with resistance at 1.12290 which both lines are below the weekly pivot point at 1.12540. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The correction pattern has been formed completely and it does not seem that the price goes down further. The resistance level breakout will push the price up towards the middle Bollinger band at 1.12700.
