Canada will release GDP MoM and Raw Materials Prices MoM and the US will publish Personal Income and Spending MoM.
The pair is finding support at 1.31850 with resistance at 1.32930 which the weekly pivot point at 1.32660 is located in between the lines. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the MACD indicator is in negative territory and the Stochastic is showing downward momentum. The ADX is showing weak buy signal. The price is in 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.
The resistance level breakout will push the pair towards 1.33; otherwise, the price will continue its decline towards 1.315.