Consumer Inflation Expectations and Home Loans MoM have been released in Australia and the US will publish Philadelphia Fed Manufacturing Index and Initial Jobless Claims.
The support rests at 0.71390 with resistance at 0.71700 which both lines are below the weekly pivot point at 0.71880. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is falling towards the 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 showing sell signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing downward trend.
Short positions are recommended towards 0.7120.
