While EUR was empowered by the news over covid-19 vaccine, the currency went under pressure due to the devastating economic data; Manufacturing PMI and Services PMI both declined. USD is still suffering from the strict quarantine.
The support lays at 1.18220 with resistance at 1.18690. The weekly pivot point at 1.18560 is located in between the lines. The EMA of 10 is moving horizontally in the ascendant channel and it is above the EMA of 100 and 200. The Stochastic is moving in middle ranges, the RSI is moving on level 50 and the MACD indicator is in negative territory. ADX is showing buy signal.
The resistance level breakout can bring 1.19100 for buyers; otherwise EURUSD may decline towards 1.17900.
