Since the beginning of the year the currency pair gained more than 1.0% although last week plunged more than 1.0% but still remains in a recovery phase since mid-January 2017.
Last week the EURUSD dived with a narrow range and closed near the low of the week, however managed to close within the previous week range, which suggests being slightly on the bearish side of neutral.
It seems that the 10 week moving average will be a good support and should provide a nice price bounce from it.
The stochastic is beginning to show bearish momentum and is below the 50 mid line.
Expecting a downward move to 2015 low at 1.0462 on a break below the 10 week moving average at 1.0595 (scenario 1) however a break above the key level at 1.0710 could push the currency up to a key level at 1.0952 (scenario 2).