Germany’s GfK consumer confidence index grew unexpectedly.
The support rests at 1.09960 with resistance at 1.10260 which both lines are below the weekly pivot point at 1.10440. 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 rising towards 50 level, the Stochastic is showing downward momentum and the MACD line is on the signal line in the neutral territory. The ADX is not showing any clear signals.
The price decline may continue towards the previous low at 1.09800 but the correction pattern will begin soon.