EURUSD resumed its bullish trend on Friday. Injecting trillions of dollars into the American economy will be weighing on USD for a long time. However, pulling down the USD power may be one of the authorities plans.
The support rests at 1.20950 with resistance at 1.21570. The weekly pivot point at 1.20470 is located below the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above EMA of 200 and the EMA of 100. The Stochastic is moving in high ranges, the RSI is moving in overbought area and the ADX is showing buy signal. The MACD indicator is in positive territory.
We are remaining bullish on EURUSD with the target level of 1.22000; in case of the reversal, sellers can expect 1.19600.