Draghi’s comments on willingness to ease policy if inflation weighed on EUR.
The support rests at 1.11700 with resistance at 1.12120 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 below 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.
EURUSD may continue its decline towards the bottom trend line of the Andrew’s Pitchfork at 1.11500.