EURUSD analysis for 02.12.2016

While USD is being supported by the oil price EUR is being influenced by the PMIs in Germany and France disappointed markets. The support rests at 1.06560 with resistance at 1.07040 which both lines are above the weekly pivot point at 1.05870. The EMA of 10 is moving with bullish bias along the ascendant channel and it is below the EMA of 100. The RSI is falling towards the 50 level, the Stochastic is moving in high ranges and the MACD indicator is in positive territory. The ADX is showing buy signal. The support level breakthrough will smooth the way for further decline targeting 1.0550.

https://fxglory.com/eurusd-analysis-for-02-12-2016/