Balance of trade, Import and Export data will be published in Canada and the US will release Balance of Trade, Factory Orders MoM and ISM Non-Manufacturing PMI.
The pair is finding support at 1.30790 with resistance at 1.31560 which the weekly pivot point at 1.31240 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is rising towards 50 level, the MACD line is above the signal line in the positive territory and the Stochastic is moving in low ranges. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above 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 1.3055.
