The consumer sentiment improvement in most sectors of the regional economy has not been transformed into the consumer spending increase yet that is seen from the retail sales reports. The Germany published import (1,6% against the forecasted 1,0%), export (0,4% against the forecasted 0,7%), payment balance (19,7B against the forecasted 20,0B) and industrial production reports (-0,3% against the forecasted 0,5%).
The first support lies at 1.0800 and then at 1.0730. The first resistance stands at 1.0925, the next one is at 1.1050.
There is a non-confirmed and a weak buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement forming a “Golden Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is growing.
The buyers need to break above 1.0925 for a steady growth. The way to the mark 1.1050 will be opened after this breakthrough.