EUR is acting strong against USD since USD is under pressure due to the FOMC minutes and Mnuchin’s comments on tax reform.
The support rests at 1.05540 with resistance at 1.05800 which the weekly pivot point at 1.05610 is located in between the lines. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 100 and 200. The RSI is moving horizontally on 50 level, the Stochastic is showing upward momentum and the MACD indicator is in neutral territory. The ADX is not showing any clear signals.
Long positions are recommended targeting 1.0630.

eurusd analysis