Political issues in the European market is weighing on EUR. Germany’s producer price index is the most influential factor for EURUSD.
The support rests at 1.13690 with resistance at 1.13900 which both lines are below the weekly pivot point at 1.14020. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA 100 and the EMA of 200. The RSI is rising towards the 50 level and the Stochastic is showing upward momentum. The MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
The resistance level breakout will push the price up towards the upper Bollinger band at 1.142.
