EURUSD analysis for 16.02.2017

Yellen’s speech supported USD and on the other hand consumer price index in Spain put pressure on EUR. The support rests at 1.05760 with resistance at 1.06560 which both lines are below the weekly pivot point at 1.06780. The EMA of 10 is moving with bullish bias along the ascendant channel and it is below the EMA of 100 and 200. The RSI is rising towards the 50 level, the Stochastic is moving in its high ranges and the MACD indicator is in negative territory. The ADX is not showing any clear signals. Despite EURUSD attempt to rise, the pair will continue its bearish trend targeting 1.0550. https://fxglory.com/eurusd-analysis-for-16-02-2017/