EUR is losing momentum due to the negative Business Climate in Germany.
The support rests at 1.07350 with resistance at 1.07710 which both lines are above the weekly pivot point at 1.06660. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is falling close to 50 level, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is not showing any clear signals.
Bears are taking the control of the chart therefore short positions are recommended targeting 1.070 area.

eurusd analysis