USD has been supported by the Fed and the CPI data. There are no major economic reports in Eurozone but traders are waiting for the Final GDP data from the US.
The support rests at 1.17110 with resistance at 1.17610 which both lines are below the weekly pivot point at 1.19470. 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 the oversold area, the Stochastic is showing upward momentum and the MACD indicator is in negative territory. The ADX is showing sell signals.
If the GDP reports come out strong, the pair will drop to 1.15 otherwise it will start its correction pattern towards 1.18.

eurusd analysis