The US dollar index is falling gradually. USD went under further pressure when the Fed’s minutes was announced.
EUSUSD is finding support at 1.19030 with resistance at 1.19480. Both lines are above the weekly pivot point at 1.18560. The EMA of 10 is above the EMA of 100 and 200 and they are all growing within the ascendant channel. All indicators are showing strong bullish momentum.
The resistance level breakout will smooth the way for further growth towards 1.19800; however, the resistance might be too strong. The decline may start anytime soon.