The weaker than expected EU inflation data put EUR under pressure.
The support rests at 1.12100 with resistance at 1.12430 which both lines are below the weekly pivot point at 1.13410. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA 100 and the EMA of 200. The RSI is moving in oversold area and the Stochastic is moving in low ranges. The MACD line is below the signal line in the negative territory. The ADX is showing weak sell signal.
EURUSD may continue its bearish trend within Andrews’ Pitchfork targeting the previous low at 1.11750.