CPI and Consumer Price Index – EU Harmonised were published in Switzerland and the US will release Crude Oil Inventories, ADP Non-Farm Employment Change and there will be FOMC Members’ talks.
The support rests at 0.89880 with resistance at 0.90210 which both lines are below the weekly pivot point at 0.90790. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and above 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 showing sell signal. The price is below the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing a downward trend and the Kijun-sen is showing a horizontal trend.
Short positions are recommended towards 0.89350.