USD is under pressure due to poor economic data and today Draghi’s speech mostly determines EURUSD direction.
The support rests at 1.10700 with resistance at 1.10940 which both lines are below the weekly pivot point at 1.11110. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
The support level breakthrough will push the price down towards 50 level of Fibonacci at 1.10300; otherwise, EURUSD is trying to continue its growth towards 1.11200.
