EURUSD is moving in tight ranges and today traders will be looking at Eurozone’s Consumer Confidence Flash.
The support rests at 1.12360 with resistance at 1.12560 which both lines are below the weekly pivot point at 1.12640. The EMA of 10 is moving horizontally in the descendant channel and it is below the EMA 200 and the EMA of 100. The RSI is moving below 50 level and the Stochastic is showing downward momentum. The MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
The support level breakthrough may push the price down towards 1.12200; otherwise, EURUSD will grow towards 1.12800.