The yield differentials and potential risk aversion in equities have supported EURUSD.
The support rests at 1.17080 with resistance at 1.17560 which the weekly pivot point at 1.17240 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is falling towards the 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 showing weak sell signal.
The indicators are showing downward momentum, while the lower Bollinger band remains a strong support area, EURUSD may continue its bullish trend towards 1.18.
