There has been a growth in Euro-zone’s final consumer confidence index and today Germany will release some economic data such as Germany’s Unemployment Change and Germany’s Unemployment Rate.
The support rests at 1.09250 with resistance at 1.09660 which the weekly pivot point at 1.09570 is located in between the lines. The EMA of 10 is moving horizontally in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
While the bearish pressure remains, sellers can target the lower Bollinger band at 1.09000.