By the beginning of today's trading session the dollar began to strengthen. Today we expect a number of macroeconomic indicators from the US and the eurozone. The indicators released at the moment from the EU showed mixed dynamics. The figures from Germany were lower than expected, while in France they exceeded the forecasted ones.
When considering the chart and technical indicators, we observe a weakening of the pair. The trend indicator RSI is pointing downwards, while the Stochastic is trying to cross and show the turn.
At the moment the pair is near the resistance level 1.1845. After a consolidation near this level and its passage, we expect a further decline in prices to the levels of 1.1810 and 1.1730.
