EURUSD crashed due to yesterday’s FOMC statement and today it will stay volatile because of several economic reports such as the US Unemployment Data and ECB President Draghi’s speech.
The support rests at 1.18550 with resistance at 1.19050 which both lines are below the weekly pivot point at 1.19360. The EMA of 10 is moving with bearish bias along the descendant channel but it is above the EMA of 200 and the EMA of 100. The RSI is moving in the oversold area, the Stochastic is moving in low ranges and the MACD indicator is in negative territory. The ADX is not showing any clear signals.
The resistance level breakout will smooth the way for the pair to continue its bullish trend towards 1.25; otherwise, it will drop to 1.182.

eurusd analysis

eurusd