Retail Sales data will be released in Canada and the US will publish Markit Manufacturing PMI Flash and Existing Home Sales.
The pair is finding support at 1.31560 with resistance at 1.32070 which both lines are below the weekly pivot point at 1.33570. 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 moving in oversold area, the MACD line is below the signal line in the negative territory and the Stochastic is showing upward momentum. The ADX is showing sell signal. The price is below 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.
The resistance level breakout will confirm the bullish trend towards 1.32500.
