Current level at 11:09 CET is 103.79, trading below the daily pivot point level of 104.23, having seen a high of 104.31 in early European trade. The daily picture is slightly on the defensive with standard error bands poised to the downside and daily MACD below the zero line. Bollinger bands are flat and contracting. Should the downside accelerate, then initial support is expected at 102.37 which represents the daily Ichimoku cloud top. The flat 55 day moving average is nearby at 102.33. The falling 14 day ADX is at 16 and reflects the lack of direction evident in this currency pair at present. Pivot point related support levels for today are at 103.36 and then 102.66. Resistance levels are at 104.93 and then 105.80.
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