Lack of fundamental news and macroeconomic reports put more pressure on EURUSD.
The support rests at 1.16800 with resistance at 1.17400. The weekly pivot point at 1.18340 is located above the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The Stochastic is moving in low ranges, the RSI is moving in oversold area and the ADX is showing sell signal. The MACD indicator is in negative territory.
Since the beginning of 2021 EURUSD has not been this low. The support line seems too strong so there might be some consolidation around the support and resistance lines.
