Germany’s Ifo business climate index fell and the European Central Bank (ECB) left its interest rate unchanged.
The support rests at 1.11030 with resistance at 1.11540 which both lines are below the weekly pivot point at 1.12350. The EMA of 10 is moving horizontally in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the Stochastic is moving in middle ranges and the MACD line is above the signal line in the positive territory. The ADX is showing sell signal.
The resistance level breakout will confirm the correction pattern towards 50 level of Fibonacci at 1.12500; however, it seems that EURUSD is trying to consolidate within the support and resistance lines.