The EUR/USD currency pair is attempting to break through major trend lines of support and resistance. Instead of going down to the double top at 1.19, the price may fall to as low as 1.1580 if a bearish breakout occurs.
The support rests at 1.17090 with resistance at 1.17140 which the price is moving below the Pivot Point at 1.16990 located between the lines. The EMA of 10 is moving in bearish bias in descendant channel below EMA of 100 and the EMA of 200. The RSI is moving below the level of 30, the MACD histogram is in negative territory showing a buy signal and the Stochastic is moving in low ranges and created a crossover buy signal. The ADX is showing upward momentum.

• There is resistance at 1.17140, followed by resistance at 1.17380 and 1.17530.
• There is support at 1.16750 Below, there is 1.16600 and 1.16360.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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