The vaccine situation in Eurozone is weighing on EUR. Some important speeches were delivered by Janet Yellen and Fed Chairman Jerome Powell regarding the inflation.
The support rests at 1.17940 with resistance at 1.18420. The weekly pivot point at 1.19230 is located above the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The Stochastic is moving in low ranges, the RSI is moving in oversold area and the ADX is showing weak sell signal. The MACD indicator is in negative territory.
EURUSD may grow towards the middle Bollinger band but the bears will pave the way for 1.17500.
