While Germany’s Ifo Business Climate Index grew, USD went under pressure after impeachment inquiry was initiated by the US lawmakers on President Donald Trump.
The support rests at 1.09770 with resistance at 1.10190 which both lines are below the weekly pivot point at 1.10320. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in below 50 level, the Stochastic is showing downward momentum and the MACD line is on the signal line in the neutral territory. The ADX is showing sell signal.
The support level seems to be too strong to be broken therefore while considering pullbacks on the way EURUSD may grow towards the upper Bollinger band at 1.10300.