Producer & Import Prices, CPI and Consumer Price Index – EU Harmonised are released in Switzerland and the US will publish UoM Inflation Expectations and Baker Hughes U.S. Rig Count.
The support rests at 0.88920 with resistance at 0.89270 which both lines are above the weekly pivot point at 0.89790. 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 above the signal line in the positive territory and the Stochastic is showing upward momentum. The ADX is showing buy signal. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 0.89800.