Draghi’s announcement regarding the possibility of keeping the rate hikes low by ECB, put EUR under pressure.
The support rests at 1.20630 with resistance at 1.21280 which both lines are below the weekly pivot point at 1.23160. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing weak sell signal.
Short positions are recommended towards 1.20.

eurusd

eurusd