Data on the consumer climate and consumer spending index of the Eurozone will release today which might bring the bulls back to the market.
The support rests at 1.11030 with resistance at 1.11280 which the weekly pivot point at 1.11240 is located in between the lines. 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 on 50 level, the Stochastic is moving in middle ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The price decline may continue towards the lower Bollinger band but it will start its bullish trend soon.
