EUR is being supported due to the strong German economic reports. The support rests at 1.12350 with resistance at 1.12550 which both lines are above the weekly pivot point at 1.12040. The EMA of 10 is moving with bullish bias and it is located above the EMA of 100. The RSI is moving above the 50 area, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. Long positions are recommended with target at 1.1300.

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