USD has been supported by the ADP and the Prelim GDP data which both came stronger than expected.
The support rests at 1.18390 with resistance at 1.19090 which the weekly pivot point at 1.18630 is located in between the lines. The EMA of 10 is moving with bearish bias along the descendant channel but it is above the EMA of 100 and the EMA of 200. The RSI is falling down towards the oversold area, the Stochastic is moving in low ranges and the MACD indicator is in positive territory. The ADX is showing sell signals.
Short positions are recommended towards the 61.8 level of Fibonacci.

eurusd analysis