EURUSD analysis for 19.11.2020
While EUR buyers were waiting for EUR empowerment and EUR managed to hit 1.18900, Eurozone inflation data disappointed the traders and pushed EUR down. The consumer prices data could not support EUR as well. The ECB President speech can even put more pressure on EUR.
The support holds 1.18050 with resistance at 1.18830 which the weekly pivot point at 1.18330 is located in between the lines. EMA of 10 is falling down within the ascendant channel and it is above the EMA of 100 and 200. All indicators are showing downward pressure.
The support level violation can push the price down towards 1.17900. Otherwise, EURUSD will be fluctuating within the support and resistance lines.