Despite the growth of PMI data in Euro Zone. EURUSD is under pressure.
The support rests at 1.10180 with resistance at 1.10450 which both lines are below the weekly pivot point at 1.10550. 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 RSI is moving in oversold area, the Stochastic is showing upward momentum and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
The bears may push the price down towards the lower Bollinger band at 1.10000.
