Germany’s Unemployment Rate unexpectedly grew and today there are no major economic reports in Eurozone.
The support rests at 1.11130 with resistance at 1.11480 which both lines are below the weekly pivot point at 1.11750. 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 oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
The price decline may continue towards the previous low at 1.11060; the correction patten may begin soon targeting the middle Bollinger band at 1.11700.