Switzerland has released Producer & Import Prices MoM and the US will publish Inflation Rate YoY and Monthly Budget Statement.
The support rests at 0.96780 with resistance at 0.97170 which the weekly pivot point at 0.97000 is located in between the lines. 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 moving below the 50 level, 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 while the Kijun-sen is showing a horizontal trend.
Short positions are recommended towards 0.9675.
