The Mortgage Bankers Association’s Mortgage Applications declined in the US but Retail Sales grew. EUR went under pressure against most major currencies.
The support rests at 1.17380 with resistance at 1.18080 which both lines are below the weekly pivot point at 1.18390. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and below 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 support level break through will push the price down towards 1.16950; otherwise, EURUSD will recover the current decline targeting 1.18000.