Building Permits MoM came lower than expected. The US will release ADP Employment Change and ISM Non-Manufacturing PMI.
The support rests at 0.71460 with resistance at 0.72120 which both lines are below the weekly pivot point at 0.72440. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the MACD line is below the signal line in the negative territory and the Stochastic is moving in low ranges. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 0.712.
