EUR gained some strength yesterday and stopped EURUSD from further decline. The yield on US Treasury bonds fell and put USD under pressure.
The support rests at 1.17630 with resistance at 1.17930. 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.
The resistance level breakout will push the price up towards 1.18500; otherwise the bearish trend will resume targeting 1.17300.