Switzerland has released Unemployment Rate and the US will publish Core PPI MoM and Wholesale Inventories MoM.
The support rests at 0.99160 with resistance at 0.99480 which the weekly pivot point at 0.99260 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is located above the EMA of 200 and the EMA of 100. The RSI is rising towards the 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
The resistance level breakout will push the price up towards 0.998 otherwise the pair will decline towards 0.989.
