AIG Manufacturing Index and TD-MI Inflation Gauge MoM has been released in Australia and the US will publish ISM Manufacturing PMI and Construction Spending MoM.
The support rests at 0.69790 with resistance at 0.70300 which the weekly pivot point at 0.69920 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is falling towards 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is showing downward momentum. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend.
Short positions are recommended towards 0.69600.
