The USD is being supported due to Fed’s decision regarding the rate hike. The support rests at 1.09600 with resistance at 1.09980 which both lines are below the weekly pivot point at 1.10460. The EMA of 10 is moving with bearish bias and it is located below the EMA of 100. The RSI is moving below the 50 area towards the oversold area, the Stochastic is showing upward momentum and the MACD indicator is in negative territory heading up. Today long positions are recommended targeting 1.1050.
EURUSD analysis for 17.10.2016
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