Euro-Zone’s producer price index rose less than expected and today there is no major economic reports in Eurozone or the US.
The support rests at 1.12970 with resistance at 1.12230 which both lines are below the weekly pivot point at 1.12350. The EMA of 10 is moving with bearish bias in the horizontal channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
The indicators are showing bearish signals. The price may decline toward the lower Bollinger band at 1.11900.