CPI and Consumer Price Index – EU Harmonised were released in Switzerland and the US will publish ISM Manufacturing and ISM Manufacturing Prices.
The support rests at 0.87960 with resistance at 0.88240 which both lines are below the weekly pivot point at 0.88970. 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 growing towards level 50, the MACD line is on the signal line in the neutral 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 and the Kijun-sen are both showing a downward trend.
Short positions are recommended towards 0.87700.