Eurozone economic data is weighing on EUR and today German IFO business climate index data has been released.
The support rests at 1.13190 with resistance at 1.13570 which both lines are below the weekly pivot point at 1.14020. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA 100 and the EMA of 200. The RSI is rising towards the 50 level and the Stochastic is showing upward momentum. The MACD line is on the signal line in the neutral territory. The ADX is showing buy signal.
All indicators are showing bullish trend therefore buyers can target 61.8 level of Fibonacci at 1.145.
